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26 May 2024

Mubadala not in talks on Enel unit stake

By Reuters

Abu Dhabi Government investment fund Mubadala Development Company said it was not holding talks to buy a stake in Italian firm Enel's renewable energy unit Enel Green Power.

"I can confirm Mubadala is currently not engaged in any discussion with Enel," Waleed Al Muhairi, Mubadala's Chief Operating Officer, said.

In Italy, a financial source close to the matter had said earlier that Mubadala was interested in taking a stake in Enel Green Power.

Asked if Masdar, Mubadala's green energy unit, would take a stake in Enel's unit, Masdar's CEO Sultan Al Jaber told Reuters by text message: "This is not true."

Masdar has been set up by the Abu Dhabi Government to develop sustainable and clean energy. It aims to ensure a leading role in future energy industries for Abu Dhabi.