Trade Arabia News Service reported that the Abu Dhabi National Energy Company is planning to buy a number of renewable energy firms in a bid to make 50% of its operations eco friendly by 2023.

Mr Peter Barker-Homek CEO of Taqa said that “We are currently looking at two firms, one European and one North American.”

He said that Renewable energy includes power from solar, wind, tidal and geothermal sources

The two firms are finding it difficult to get financing due to current financial crisis. The company had earlier tied up with France's Theolia to work on renewable energy projects in Morocco. Taqa aims to make about seven per cent of its operations renewable by mid 2010 and further increase it to 50% between 2018 and 2023 through global acquisitions.