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The Talimarjan Issiqlik Elektr Stansiyasi JSC (TIES) will retain the remaining 20 per cent stake in every plant.
The agreements had been signed by Khaled Abdulla Al Qubaisi, CEO, Actual Property & Infrastructure at Mubadala, Jasim Husain Thabet, TAQA’s Group CEO and Managing Director, and Jamshid Khodjaev, Deputy Prime-Minister of the Republic of Uzbekistan and Minister of Investments and International Commerce and Yusupov Olim, Common Director of Talimarjan TPP.
“As a world and accountable investor, Mubadala is targeted on supporting power transition the world over,” mentioned Al Qubaisi. “We’re assured our partnership will contribute to Uzbekistan’s better power stability whereas making ready for a low carbon future.”
The transaction stays topic to the satisfaction of sure situations precedent, together with acquiring any relevant regulatory or different approvals. Completion of this transaction is predicted to happen in the course of the second-half of 2023.
“This main funding in a brand new nation is a crucial step ahead within the supply of the 15GW of latest worldwide capability we introduced as a part of TAQA’s 2030 development technique,” mentioned Farid Al Awlaqi, Government Director of Technology at TAQA Group. “The deal additionally considerably expands our operation and upkeep exercise, one other key a part of our technique.”
The agreements comply with the 2020 settlement with Uzbekistan’s Ministry of Funding and International Commerce, and JSC Thermal Energy Crops of the Republic of Uzbekistan (JSC) referring to the proposed acquisition, improvement and operation of the Talimarjan Energy Advanced.
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