UAE Business: Mubadala, Taqa to invest in Uzbekistan power sector – Gulf Digital News

UAE Business: Mubadala, Taqa to invest in Uzbekistan power sector – Gulf Digital News

Mubadala Investment Company and Abu Dhabi National Energy Company (TAQA), one of the largest listed integrated utilities companies in the region, signed agreements to invest in the privatisation of two gas-fired power generation plants in the Talimarjan power complex in Uzbekistan.

The binding agreements will see Mubadala and TAQA each acquire a 40% stake in two gas-fired power plants with a combined capacity of 1.6 gigawatts (GW) and the assumption of associated operations and maintenance activities.

The Talimarjan Issiqlik Elektr Stansiyasi JSC (TIES) will retain the remaining 20% stake in each plant.

In the presence of Eng Suhail Mohamed AlMazrouei, Minister of Energy & Infrastructure of the UAE, and Jamshid Khodjaev, Deputy Prime Minister of Uzbekistan, and Minister of Investments and Foreign Trade in Tashkent, Uzbekistan, the agreements were signed by Khaled Abdulla Al Qubaisi, Chief Executive Officer, Real Estate & Infrastructure at Mubadala, Jasim Husain Thabet, TAQA’s Group Chief Executive Officer and Managing Director, and Jamshid Khodjaev, Deputy Prime-Minister of the Republic of Uzbekistan and Minister of Investments and Foreign Trade and Yusupov Olim, General Director of Talimarjan TPP.

The transaction remains subject to the satisfaction of certain conditions precedent, including obtaining any applicable regulatory or other approvals. Completion of this transaction is