Abu Dhabi’s sovereign investor, Mubadala, alongside the Abu Dhabi National Energy Company (TAQA), one of the world’s largest listed integrated utilities, have finalised the acquisition of a gas-fired power generation facility at Uzbekistan’s Talimarjan Power Complex.
Each company now holds a 40% stake in the 875MW combined-cycle gas-fired plant, known as TPP1, through the newly formed Talimarjan Power Plant 1 LLC. Additionally, both entities possess a 40% share in Talimarjan Operations & Maintenance (O&M), established to manage the plant’s operations.
The remaining 20% stakes in both the project company and the O&M entity are retained by Uzbekistan’s JSC ‘Talimarjan Issiqlik Elektr Stansiyasi’ (TIES).
This investment aligns with Uzbekistan’s initiative to privatise its power sector and stems from a strategic partnership between the governments of Uzbekistan and the United Arab Emirates. Mubadala and TAQA aim to leverage their global expertise in the power sector to enhance the local energy market.
The plant operates under a 25-year Power Purchase Agreement (PPA) with JSC ‘Uzenergosotish’ (UES) and is anticipated to play a pivotal role in meeting the country’s escalating electricity demands amid rapid population and economic growth.
