Taqa Sells Stake in Caribbean Power Assets to Marubeni Corp.

Abu Dhabi National Energy Co., the government-controlled utility known as Taqa, sold its stake in its Caribbean power assets to Marubeni Corp.

Marubeni Taqa Caribbean Ltd. was a joint venture between Taqa and Marubeni when Taqa purchased 50 percent of Marubeni’s Caribbean assets in March 2009, the company said in a statement to the Abu Dhabi bourse today. It didn’t give a value for the transaction.