Abu Dhabi National Energy Company PJSC (Taqa) has announced it has signed a Letter of Intent (LoI) with Oasis International Power LLC (Oasis), an Abu Dhabi-based power company, for developing power generation and water projects in and around the Indian Subcontinent.

Any joint venture between Taqa and Oasis will be managed on a project-by-project basis according to the requirements and specifics of each project.
The LoI does not include any capital commitments at this stage.
Commenting on the announcement, Peter Barker-Homek, CEO of Taqa, said the combined strengths of Taqa and Oasis would make a winning partnership.  “We both recognise the huge potential in the power generation and water markets in and around the Indian Subcontinent.  The combination of industrialisation and population growth has resulted in an increase in demand for reliable sources of energy.  We are confident that the expertise we have gained within our domestic market will help us realise this potential.”
Salem Al Neyadi, director and board member of Oasis, said: “We have both identified a number of projects that show great potential.  It is too early to disclose details, but this letter of intent outlines our commitment to developing these projects with Taqa, drawing on our combined expertise.  I look forward to a long and fruitful working relationship.”
Founded in 2005, Taqa is a global energy company with a growing asset base that exceeds $18 billion. It is one of the largest companies listed on the Abu Dhabi Securities Market with 2007 revenues of more than $2 billion. Taqa is a flagship corporation for the Government of Abu Dhabi.
Oasis is a UAE-registered company involved in the development, ownership, operation and maintenance of independent water and power projects.