Uzbekistan and the UAE’s Mubadala signed an agreement on the privatization of the Talimarjan TPP, the Ministry of Investment and Foreign Trade said.
The agreement sets the mechanisms and conditions for privatization, development, financing and operation of the Talimarjan energy complex.
In addition, the agreement stipulates the construction of new units. Mubadala is set to purchase the stake in Talimarjan TPP in Q3 of 2020.
In February 2017, two combined cycle plants (CCGT) with a total capacity of 900 megawatts were commissioned at the Talimarjan TPP by the South Korean companies Daewoo and Hyundai.
The US$ 1.28 billion project allowed to increase the generation of electricity by 2.3 times - up to 10.4 billion kWh.
Mubadala is a wholly owned investment vehicle of the government of Abu Dhabi, with over US$ 200 billion investment portfolio, which includes the company's assets in the energy, IT, metallurgy, aerospace, mining, and healthcare.