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TAQA Powers Up Uzbekistan's Future Growth | |
| Sumita Pawar |
Abu Dhabi National Energy Co. (TAQA) has agreed to invest over $3 billion in new and existing power plants in Uzbekistan, with a focus on greenfield combined cycle power plants.
The strategic partnership with the Uzbek government will see TAQA responsible for all plant design, financing, engineering, procurement, testing, ownership, and operation.
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The company will also work on electricity transmission and distribution infrastructure in the country.
"By working together, we can accelerate the sustainable development of the electricity sector in the country as well as strengthen the bonds of the strong relationship between our two countries," said Group CEO and Managing Director at TAQA, Jasim Husain Thabet.
"This new partnership and the proposed projects build on the cooperation opportunities that exist today between the Republic of Uzbekistan and the UAE as well as our common vision to support the energy sector and invest in sustainable and reliable energy services," Deputy Minister of Investments and Foreign Trade for Uzbekistan Shukhrat Vafaev said in a statement.
The deals follow Saudi Arabia’s ACWA Power’s agreements valued at over $120 million for energy projects in Uzbekistan and ACWA Power’s announcement in April that it will develop two wind power plants in Uzbekistan.