Mubadala inks deal for development of Uzbekistan power plant
The deal sets the stage for the acquisition, development, and operation of the Talimarjan Power Complex in Uzbekistan
Abu Dhabi-based sovereign investor Mubadala Investment Company (Mubadala) has inked an agreement with Uzbekistan’s Ministry of Investment and Foreign Trade, as well as JSC Thermal Power Plants of the Republic of Uzbekistan (JSC), to establish a roadmap for the implementation of a transaction, which will include the acquisition, development, financing, and operation of the Talimarjan Power Complex.
The deal was inked in the presence of Sardor Umurzakov, the Uzbekistan Minister of Investments and Foreign Trade, at a ceremony held in Tashkent, Uzbekistan.
Commenting on the agreement, the utilities director at Mubadala, Mohammed Alhuraimel Alshamsi, said: “The Talimarjan Power Complex comprises 1.7GW of existing gas-fired conventional power, with a plan to further expand the complex to accommodate the growing power demand of the nation. Mubadala is proud to partner with the Ministry of Investment and Foreign Trade and JSC Thermal Power Plants on this strategic project.”
Speaking on the deal, the chief executive officer of Aerospace, Renewables, and ICT at Mubadala, Khaled Al Qubaisi, said: “We are honoured to join forces with our esteemed Uzbek partners in one of the first privatisations in the conventional power generation sector in The Republic of Uzbekistan utilising the Independent Power Producer (IPP) model, and we hope this is the first of many partnerships with the Republic.”