Abu Dhabi – Mubasher: Abu Dhabi National Energy Company (TAQA) collaborated with the government of Uzbekistan to explore strategic opportunities for investment in the Republic’s power sector.
The partnerships include new and existing power plants as well as associated power infrastructure at an estimated value of more than $3 billion, according to a press release.
The agreement covers proposals for a greenfield combined cycle power plant with a capacity of nearly 1.50 gigawatts (GW).
The new project will be developed adjacent to the existing Talimarjan power complex, where TAQA previously unveiled plans to invest in the privatisation of two gas-fired power plants.
Meanwhile, the two sides are discussing opportunities to invest in existing and further greenfield gas-fired power generation plants with a combined capacity exceeding 3 GW along with electricity transmission and distribution infrastructure in Uzbekistan.
This strategic collaboration between the two entities aligns with TAQA’s international growth strategy, as it allows the UAE group to bring its operation and maintenance expertise to Uzbekistan in support of new and existing power generation projects.
Sarvar Khamidov, Uzbekistan’s Deputy Minister of Investments, Industry and Trade of the Repub, said: “This partnership and the pipeline of projects build on the existing opportunities between our countries and our shared interests to invest and support a sustainable and reliable power sector. We look forward to working with TAQA to advance Uzbekistan’s transformation.”
Jasim Husain Thabet, Group CEO and Managing Director of TAQA, noted: “Working together we can accelerate the sustainable development of the country’s power sector and build on the strong relationship between our two countries.”
Thabet continued: “In addition to helping modernise Uzbekistan’s network and generation sector capabilities, working closely with the country’s leading ministerial agencies will allow us to expand our international portfolio, strengthening our position as a global utilities leader.”
During the first quarter (Q1) of 2023, TAQA logged net profits attributable to the owners valued at AED 11.57 billion, an annual leap from AED 1.97 billion.
