Uzbekistan and the Emirati Mubadala signed an agreement on privatization of the Talimarjan TPP, the press service of the Ministry of Investment and Foreign Trade said. 

The agreement defines the mechanisms and conditions for privatization, development, financing and operation of the Talimarjan energy complex.

In addition to the privatization of existing TPP units, the agreement involves the construction of new ones. The privatization process with the purchase of shares of the facility is planned by the Emirati side in the third quarter of 2020.

In February 2017, at the Talimarjan TPP, located in the Kashkadarya region, commissioning work was completed after the construction of two combined cycle plants with a total capacity of 900 megawatts by the South Korean companies Daewoo and Hyundai.

A project worth $1.28 billion allowed to increase the generation of electricity at the station by 2.3 times – up to 10.4 billion kWh. 
 
For information, Mubadala is the UAE’s state-owned investment company with a portfolio of investments worth more than $200 billion, which includes the company’s assets in the fuel-energy industry, the sector of information-communication technologies, metallurgy, aerospace, mining and healthcare.