In his capacity as Ruler of Abu Dhabi, His Highness Sheikh Khalifa bin Zayed Al Nahyan, has issued Law No. (3) of 2019 on the Abu Dhabi Power Corporation (ADP).
The law stipulates that Abu Dhabi Energy Corporation's legal form will be amended to become a public joint stock company with independent legal personality, financial and administrative independence and full legal capacity to act. Under the law, all shares and shares in the company will be transferred to ADDC.
The company will contribute and encourage support for projects and activities in the water and electricity sector, which will strengthen its position within the country and meet the aspirations of the future vision of Abu Dhabi.
The law transfers to the company all movable and immovable property, real estate, shares and shares in companies owned by the Department of Energy including all powers of the Department associated with or relating to the shares or shares of any of the subsidiaries listed in any legislation, regulation or decision, The assets, assets and funds of the other Energy Department, which shall be determined by a decision of the Authority concerned.