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Mubadala inks implementation agreement with Uzbekistani gov’t

Mubadala inks implementation agreement with Uzbekistani gov’t
The agreement concerns power complex

UAE – Mubasher: Mubadala Investment Company has signed an implementation agreement with Thermal Power Plants of the Republic of Uzbekistan, the Emirates News Agency reported on Saturday.

The agreement paves the way for the future implementation of the transaction, including the acquisition, development, financing, and operation of the Talimarjan Power Complex.

"We are confident that this historic partnership will contribute to the growth of the region and help to create expertise in the development of the country's energy industry,” Uzbekistani Investments minister Sardor Umurzakov commented.

The Talimarjan Power Complex includes 1.7 gigawatts of existing gas-fired conventional power and there is a plan for expansion, utilities director at Mubadala, Mohammed Alshamsi, noted.

“We are honoured to join forces with our esteemed Uzbek partners in one of the first privatisations in the conventional power generation sector in Uzbekistan utilising the independent power producer model, and we hope this is the first of many partnerships with the Republic,” CEO of aerospace, renewables & ICT at Mubadala, Khaled Al Qubaisi, said.