Mubadala, TAQA Group to invest in power sector in Uzbekistan
15:21, 10 September 2022
ABU DHABI. KAZINFORM Mubadala Investment Company (Mubadala) and Abu Dhabi National Energy Company PJSC (TAQA), one of the largest listed integrated utilities companies in the region, signed agreements to invest in the privatization of two gas-fired power generation plants in the Talimarjan power complex in Uzbekistan.
The binding agreements will see Mubadala and TAQA each acquire a 40% stake in two gas-fired power plants with a combined capacity of 1.6 gigawatts (GW) and the assumption of associated operations & maintenance activities. The Talimarjan Issiqlik Elektr Stansiyasi JSC (TIES) will retain the remaining 20% stake in each plant, WAM reports.
The transaction remains subject to the satisfaction of certain conditions precedent, including obtaining any applicable regulatory or other approvals. Completion of this transaction is expected to occur during the second half of 2023.
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