Mubadala, TAQA Seal Deal for 875 MW Power Plant in Uzbekistan

In a major boost to UAE-Uzbekistan energy ties, Mubadala Investment Company and Abu Dhabi National Energy Company (TAQA) have successfully completed the acquisition of a gas-fired power generation plant at Uzbekistan’s Talimarjan Power Complex.

Both Mubadala and TAQA now hold 40 percent  stakes in the 875 MW combined-cycle gas plant, TPP1, through a newly formed entity, Talimarjan Power Plant 1 LLC. The remaining 20 percent is owned by Uzbekistan’s JSC 'Talimarjan Issiqlik Elektr Stansiyasi' (TIES). The two UAE companies also share 40 percent ownership in the newly formed Talimarjan Operations and Maintenance LLC, responsible for running the facility.

The transaction is part of a wider strategic partnership between the Governments of the UAE and Uzbekistan aimed at modernizing and partially privatizing Uzbekistan’s power sector. TPP1 has a 25-year Power Purchase Agreement with JSC 'Uzenergosotish,' which will help meet the country’s rapidly rising power demand due to its growing population and economy.

Hammad Rahman, Head of Asia Pacific Infrastructure at Mubadala, emphasised the company’s commitment to supporting global energy transitions, saying, “Efficient gas-fired plants like TPP1 are essential in balancing power needs with decarbonization goals. We’re excited to help Uzbekistan deliver reliable and affordable energy while contributing to socioeconomic development."

Frank Possmeier, Chief Investment Officer for Generation at TAQA, added, “This acquisition aligns with our 2030 vision of expanding our global power footprint to 150 GW, including 100 GW from renewables. TPP1 strengthens our presence in Central Asia and supports Uzbekistan’s energy reform ambitions.”

Beyond boosting generation capacity, the project is expected to bring foreign investment, enable infrastructure development, and facilitate skill-building and knowledge-sharing initiatives in Uzbekistan’s energy sector.