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Abu Dhabi National Energy Company (Taqa) has announced a partnership with Uzbekistan to explore strategic opportunities to invest over US$3 billion in the country’s power sector.
These opportunities include new and existing power plants and associated electrical infrastructure.
First Deputy Minister of Energy Azim Akhmedkhadjaev and Deputy Minister of Investments, Industry and Trade Sarvar Khamidov signed the Strategic Framework Agreement and the Implementation Agreement. The agreements were signed on behalf of Taqa by Jasim Husain Thabet, CEO and Managing Director of Taqa Group.
Greenfield Combined Cycle Power Plant
The implementation agreement covers a proposal for a new combined cycle power plant with a capacity of approximately 1.5 GW. The new project will be developed adjacent to the existing Talimarjan power plant, and Taqa has announced plans to invest in the privatization of two gas-fired power plants.
The new partnership is expected to cover the design, financing, engineering, procurement, commissioning, testing, ownership and operation of the Taqa power plant.
The agreements also seek opportunities to invest in existing and further new gas-fired power plants in Uzbekistan, with a total installed capacity of more than 3GW, as well as in transmission and distribution infrastructure.
growth strategy
The strategic cooperation between Taqa and the government of Uzbekistan is another important milestone in Taqa’s international development strategy. These agreements open the door for Taqa to bring its operations and maintenance expertise to Uzbekistan to support new and existing power generation projects. The company will also support the Uzbek government’s reform process of the industry. In terms of power transmission and distribution, the company will introduce the best international infrastructure development and operation practices to help the Uzbekistan government achieve substantial improvements in power transmission and distribution network performance, network asset modernization, customer experience and collection services.
Khamidov said: “This partnership and project pipeline builds on the existing opportunities between our two countries and our shared interest in investing in and supporting a sustainable and reliable power sector. We look forward to working with Taqa to advance Uzbekistan’s Stan’s transformation.”
Thabet commented: “Taqa welcomes the opportunity to leverage its extensive global expertise as part of our partnership with the Uzbek government. Working together, we can accelerate the sustainable development of the country’s power sector and strengthen the Strong relationships with Uzbekistan. In addition to helping modernize Uzbekistan’s network and generation industry capabilities, close collaboration with the country’s key ministerial agencies will allow us to expand our international portfolio and strengthen our position as a global utility leader.”
renewable energy projects
During the same signing ceremony, Masdar, a joint venture between Abu Dhabi Future Energy, Taqa, Adnoc and Mubadala, and Uzbekistan’s Ministry of Energy (MoE) and Ministry of Investment, Industry and Trade (MIIT) to develop more than 2 GW at various sites across the country solar and wind projects and 500 MWh of battery storage projects. — trade arab news agency
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