Abu Dhabi's Taqa to jointly tap possible $3b worth of opportunities in Uzbekistan's power sector
Signs deal with central Asian country on projects with possible combined value of $3b
Dubai: Abu Dhabi’s Taqa is entering a venture with the central Asian republic Uzbekistan to explore ‘strategic opportunities’ in that country’s power sector. This will apply to new and existing power plants and associated infrastructure in projects that could be worth $3 billion plus.
The agreement covers proposals for a new combined-cycle power plant with a capacity of around 1.5 GW. The project is set to be developed adjacent to the existing Talimarjan power complex where TAQA had announced plans to invest in the privatisation of two gas-fired power plants.
The new deal is expected to cover the design, financing, engineering, procurement, commissioning, testing, ownership and operation of the power plant by Taqa.
There could be further greenfield gas-fired power generation plants with a combined capacity of more than 3GW along with electricity transmission and distribution infrastructure in Uzbekistan.
“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,” said Jasim Husain Thabet, TAQA’s Group Chief Executive Officer and Managing Director
Another Abu Dhabi entity Masdar – in which Taqa is a shareholder - entered a joint development agreement (JDA) with Uzbekistan’s Ministry of Energy (MoE) and the Ministry of Investments, Industry and Trade (MIIT) to develop over 2GW of solar and wind projects and 500MW-hours of battery energy storage at multiple sites across the country.