January 20, 2020

Agreements on the implementation of a number of projects in the energy sector were signed between the government of Uzbekistan and the investment holding Mubadala (UAE) and its division Masdar. 

This was announced on January 18 by the press service of the Ministry of Investment and Foreign Trade of the Republic of Uzbekistan. The agreement provides for Masdar's $ 600 million investment in the construction of a wind farm in the Navoi region of Uzbekistan. According to the plan, a 400 MW power plant will be commissioned in 2022. In addition, an agreement was also signed with Mubadala to implement a project to privatize existing and build new power units on the basis of Talimarjan TPP JSC. The agreement defines the mechanisms and conditions for privatization, development, financing and operation of the Talimarjan Thermal Power Plant. The purchase of shares in the energy complex is scheduled for the third quarter of 2020. Recall that in 2019, Masdar won the open tender of the Republic of Uzbekistan to attract investment in alternative energy through public-private partnerships (PPPs). At the same time, an agreement was signed on the construction of a photovoltaic station with a total capacity of 100 MW in the Navoi region of the Republic of Uzbekistan.

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