"swap" and"energy" The acquisition of the electricity plant in Uzbekistan will be completed

Abu Dhabi, May 29/ WAM/ Mubadala Investment Company “Mubadala”, the sovereign investment company in Abu Dhabi and Abu Dhabi National Energy Company, announced “Taqah”, one of the largest integrated facilities companies listed in the financial market in the European region, the Middle East and Africa, about the completion of the acquisition of a gas power plant operating in the Republic of Uzbekistan, and is located within the “Talmarghan” complex For energy.

Both “Mubadala” and “Energy” have a 40% stake in the “TPP1” station, which has a capacity of 875 megawatts and operates with a gas -cycle gas turbine, through a new project company, which is the “Talmanjan Energy 1”.

The company “Talmarjan Eselkik Elex Stette”, owned by the Uzbek government, maintains the ownership of the remaining session, which is 20% in the project company and the operation and maintenance company.

This deal supports investment in the privatization process in the Uzbek Energy Sector, and comes after the strategic partnership between the two governments in the United Arab Emirates and Uzbekistan, as it aims to transfer the global expertise enjoyed by “Mubadala” and “energy” in the energy field to the local market in Uzbekistan.

The “TPP1” station is linked to an electricity purchase agreement for a period of 25 years with the company “Oz Energo Sothe”, which is the government concerned to purchase energy in the country, which left the Uzbek National Electricity Network.

The station plays a vital role in meeting the demand for electricity in Uzbekistan, in light of the rapid population and economic growth witnessed by the state.

Hammad Rahman, head of the infrastructure department, the Asia Pacific region of Mubadala, said that Mubadala is committed to supporting countries around the world in their endeavor to meet their energy needs, while working to reduce carbon emissions, and energy stations that work efficiently using natural gas, such as TPP1, are an essential part of the shift towards clean energy sources.

Rahman pointed out that with the high demand for electricity in Uzbekistan, we look forward to working with “energy” and our local company, “Talmarjan Eselkik Elemis Strategy”, to ensure the provision of reliable and safe energy supplies at reasonable prices for societies and companies across the country, in order to support the process of progress and sustainable economic and social growth.

For his part, Frank Boussamir, head of investment in the Electricity and Water Desalination Business Sector in the “Taqah” company, said, “We are pleased to cooperate with” Mubadala “and the” Talmarjan Eselkik Elexte Ster Store “to acquire this important power station, which plays a vital role in the process of privatizing the energy sector in Uzbekistan. He added that “Taqah” will take off its extensive experiences and skills to support Uzbekistan in meeting its growing energy needs, while continuing to invest in this vital sector.

He explained that the energy session at the “TPP1” station reflects the progress it makes towards achieving the target capacity by 2030, which is to increase our power generation capacity to 150 GW, in addition to enhancing its capabilities in the field of operation and maintenance, which in turn is a pivotal element of the power strategy.

Boussaire pointed to the commitment to upgrade the efficiency of operations and ensure the operation of “TPP1” as a global level in the growing company portfolio, while continuing to provide energy to the societies that serve it.

The acquisition on “TPP1” station will attract foreign direct investment to the prosperous energy sector in Uzbekistan, and will support local social infrastructure projects, and initiatives to exchange knowledge aimed at building capacity and sustainable community development.

It is noteworthy that the Electricity and Water Desalination Business Sector in TATA Company aims to increase its total capacity to generate electricity to 150 GW by 2030, so that about 100 GW is generated by renewable energy sources, through the main share that Taqah possesses “in the renewable energy of the Abu Dhabi Future Energy Company” source “.

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