UAE companies to invest around $1 billion into modernization of thermal power plant in Uzbekistan

AKIPRESS.COM – UAE firms Mubadala and TAQA will make investments virtually $1 billion in modernization of Talimarjan thermal energy plant. The respective agreements had been signed on September 9, the Ministry of Investments and Overseas Commerce of Uzbekistan stated.

The agreements envision creation of the three way partnership, which is able to handle Talimarjan thermal energy plant. Investments of UAE firms will likely be spent for 80% stake within the constitution capital of the would be-joint enterprise with the capital of $300 million and compensation of round $700 million in loans obtained by the Talimarjan thermal energy plant earlier.

Buyers plan to develop producing capability of the facility plant and different thermal energy crops as a result of set up of the state-of-the-art mixed cycle fuel generators.

Talimarjan thermal energy plant lies in Nishan district, Kashkadarya area. Its building started in 1984. The venture was frozen after collapse of the USSR. Development resumed in 1998. The primary unit of the thermal energy plant was put into operation in December 2004. The primary 450 MW mixed cycle fuel turbine was put into operation in October 2016. The second turbine was launched in February 2017. Two extra generators had been commissioned in August 2017. The capability of the plant makes 1,700 MW. The capability will likely be elevated to 2,600 MW. Technology of electrical energy will likely be boosted to twenty.4 billion kWh a 12 months.