emirates7 - Mubadala, Abu Dhabi’s sovereign investment company, and the Abu Dhabi National Energy Company (TAQA) have finalized the acquisition of a gas-fired power plant within Uzbekistan’s Talimarjan Power Complex.
Each company now holds a 40% stake in the 875-megawatt TPP1 combined-cycle power plant via a newly created project entity, Talimarjan Power Plant 1 LLC. They also jointly own 40% of Talimarjan Operations & Maintenance LLC, the company set up to manage the plant’s operations. The remaining 20% in both entities is owned by Uzbekistan’s state energy company, JSC “Talimarjan Issiqlik Elektr Stansiyasi” (TIES).
This deal supports Uzbekistan’s broader push to privatize its power sector and stems from a strategic collaboration between the governments of the UAE and Uzbekistan. Through this partnership, Mubadala and TAQA will apply their international energy sector experience to boost Uzbekistan’s local electricity industry.
TPP1, which operates under a 25-year Power Purchase Agreement (PPA) with JSC “Uzenergosotish” (UES)—the successor to the National Electric Grid of Uzbekistan—is a key contributor to the country’s power supply. Its role is especially vital as Uzbekistan faces increasing energy demand due to rapid population and economic growth.
Hammad Rahman, Mubadala’s Head of Asia Pacific Infrastructure, highlighted the company’s goal of aiding global energy needs while cutting emissions. He emphasized that efficient natural gas plants like TPP1 are important transitional assets on the path toward cleaner energy. He expressed confidence in the collaboration with TAQA and TIES to ensure reliable and affordable electricity across Uzbekistan, promoting national development.
Frank Possmeier, Chief Investment Officer of Generation at TAQA, praised the partnership and stressed the importance of TPP1 in Uzbekistan’s energy sector reform. He noted that this acquisition aligns with TAQA’s 2030 vision to expand power generation capacity to 150 GW, with a significant portion powered by renewables via Masdar. He reaffirmed TAQA’s dedication to operating TPP1 at world-class standards, enhancing both efficiency and regional energy security.
The acquisition not only brings significant foreign direct investment to Uzbekistan’s growing energy industry but also aims to foster local social infrastructure development and knowledge transfer through capacity-building initiatives focused on long-term sustainability.
Each company now holds a 40% stake in the 875-megawatt TPP1 combined-cycle power plant via a newly created project entity, Talimarjan Power Plant 1 LLC. They also jointly own 40% of Talimarjan Operations & Maintenance LLC, the company set up to manage the plant’s operations. The remaining 20% in both entities is owned by Uzbekistan’s state energy company, JSC “Talimarjan Issiqlik Elektr Stansiyasi” (TIES).
This deal supports Uzbekistan’s broader push to privatize its power sector and stems from a strategic collaboration between the governments of the UAE and Uzbekistan. Through this partnership, Mubadala and TAQA will apply their international energy sector experience to boost Uzbekistan’s local electricity industry.
TPP1, which operates under a 25-year Power Purchase Agreement (PPA) with JSC “Uzenergosotish” (UES)—the successor to the National Electric Grid of Uzbekistan—is a key contributor to the country’s power supply. Its role is especially vital as Uzbekistan faces increasing energy demand due to rapid population and economic growth.
Hammad Rahman, Mubadala’s Head of Asia Pacific Infrastructure, highlighted the company’s goal of aiding global energy needs while cutting emissions. He emphasized that efficient natural gas plants like TPP1 are important transitional assets on the path toward cleaner energy. He expressed confidence in the collaboration with TAQA and TIES to ensure reliable and affordable electricity across Uzbekistan, promoting national development.
Frank Possmeier, Chief Investment Officer of Generation at TAQA, praised the partnership and stressed the importance of TPP1 in Uzbekistan’s energy sector reform. He noted that this acquisition aligns with TAQA’s 2030 vision to expand power generation capacity to 150 GW, with a significant portion powered by renewables via Masdar. He reaffirmed TAQA’s dedication to operating TPP1 at world-class standards, enhancing both efficiency and regional energy security.
The acquisition not only brings significant foreign direct investment to Uzbekistan’s growing energy industry but also aims to foster local social infrastructure development and knowledge transfer through capacity-building initiatives focused on long-term sustainability.