Mohammed Mubaideen, the head of Abu Dhabi National Energy Co's (Taqa) investor relations has said the company could spend $272.3m to buy a 90% stake in a water and power plant owned by the emirate's utility provider, Arabic daily al-Khaleej has reported. The firm plans to buy Abu Dhabi Water and Electricity Authority's stake in the Fujeirah 2 plant, Mubaideen was quoted as saying.