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Mudabala & TAQA (UAE) agree to buy 2 gas-fired plants (1.6 GW) in Uzbekistan

13 Sep 2022

The Abu Dhabi sovereign wealth fund Mubadala Investment Company and TAQA (Abu Dhabi National Energy Company), an energy group owned by the government of Abu Dhabi, have agreed to acquire a majority stake in two gas-fired power plants, totalling 1.6 GW, privatised by the Uzbek government. 

The agreements will see Mubadala and TAQA each buy a 40% stake in the two gas-fired plants at the Talimarjan power complex, located in southern Uzbekistan, and assume operations and maintenance activities. Uzbekistan’s Talimarjan Issiqlik Elektr Stansiyasi (TIES), an affiliate of the state-owned power utility Uzbekenergo, will retain the remaining 20% stake in each plant.

At the end of 2020, gas represented 59% of Uzbekistan’s installed capacity with 9.6 GW and 86% of its power generation with 56.3 TWh.

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