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.