The Emirates “TAQA” plans to invest more than $3 billion in the electricity sector in Uzbekistan as part of its plan to expand into the Asian country.
TAQA announced its cooperation with the Government of Uzbekistan; To explore strategic investment opportunities within Uzbekistan’s electricity sector.
Emirates taqa’s investment opportunities include a number of new and existing power plants, as well as infrastructure for these plants, with a total value exceeding $3 billion.
The Strategic Framework Agreement and Implementation Convention were signed by First Vice Minister of Energy of Uzbekistan Azeem Ahmed Khujaev, Deputy Minister of Investment, Industry and Trade of Uzbekistan Sarvar Khmedov, along with the Chief Executive Officer of UAE Energy Group Jasim Hussein Thabit.
The Implementation Agreement provides for offers for the construction of a new approximately 1.5 GW installed cycle power plant.
The new project is to be developed at a site near the current Talimarjan power complex in Uzbekistan, which had announced plans to invest in the privatization of two gas-fired power plants.
Under NEPAD, the Emirates’ capacity is expected to be responsible for all work related to the design, financing, engineering, procurement, outsourcing, testing, ownership and operation of the terminal.
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