UAE companies investing about $1 billion in Talimarjon TPP

The signed agreements provide for the establishment of a joint venture that will manage the Talimarjon thermal power plant. Investments by UAE companies consist of payment for 80% share in the JV’s authorized capital worth $300 million and funds directed to repayment of approximately $700 million of loans previously attracted by Talimarjon TPP JSC. Thus, UAE companies are investing almost $1 billion in Talimarjon TPP. 

The signed agreements provide an opportunity for UAE companies to make additional investments in the expansion of their production capacity by equipping the Talimarjon TPP and other thermal power plants with the most modern steam-gas equipment for the combined cycle of electricity production. The devices are several times superior to traditional steam power plants in terms of the use of natural gas, the coefficient of production efficiency and the level of emissions released into the atmosphere. The implementation of agreements will significantly increase the technological level and reliability of Talimarjon TPP, provide the population, social sphere and production facilities with stable and high-quality electricity.

As part of the next stage of cooperation, UAE companies will invest in the creation of additional production capacities at Talimarjon TPP JSC. The active involvement of foreign investments in the strategic energy industry allows to change the traditional approach of financing large infrastructure assets through foreign borrowing to attracting direct foreign investments and ensures the financial stability of the republic’s external debt, consistent improvement of the sovereign credit rating.

Mubadala is an investment company owned by the government of Abu Dhabi and operating in more than 30 countries around the world. The company’s investment portfolio includes projects in areas such as aerospace, agribusiness, ICT, metalworking, mining, and utilities. The company’s total assets exceed $250 billion.

TAQA is an energy company owned by ADQ investment holding and operating in more than 11 countries around the world. The total value of the company’s assets exceeds $80 billion.