UAE’s Mubadala & TAQA to acquire two gas-fired power plants in Uzbekistan

UAE’s Mubadala & TAQA to acquire two gas-fired power plants in Uzbekistan

Mubadala Investment Company (Mubadala) and Abu Dhabi National Energy Company (TAQA), have signed agreements to invest in the privatization 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 percent 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 (TIES) will retain the remaining 20 percent stake in each plant.

The agreements were signed by Mr. Khaled Abdulla Al Qubaisi, Chief Executive Officer, Real Estate and Infrastructure at Mubadala, Mr. Jasim Husain Thabet, TAQA’s Group Chief Executive Officer and Managing Director, and Mr. Jamshid Khodjaev, Deputy Prime-Minister of the Republic of Uzbekistan and Minister of Investments and Foreign Trade and Mr. Yusupov Olim, General Director of Talimarjan TPP.

Suhail bin Mohammed Al Mazrouei

Minister of Energy & Infrastructure

UAE “The UAE continues to be a leader in providing secure and sustainable energy across the world and is actively investing in markets where it can leverage its expertise to create value for all stakeholders. The strategic partnership between the Government of Uzbekistan, TAQA and Mubadala will serve as a vehicle for collaboration