Mubadala and TAQA each buy 40% of a gas power plant in Uzbekistan that produces 875 megawatts
Mubadala Investment Company and Abu Dhabi National Energy Company (TAQA), both from Abu Dhabi, have each bought a 40% share in a new 875 megawatt gas power plant at the Talimarjan Power Complex in Uzbekistan. They did this through a new company called Talimarjan Power Plant 1.
Power Plant in Uzbekistan
TAQA and Mubadala each own 40% of Talimarjan Operations & Maintenance LLC, the company that runs the power plant. This information comes from a report filed on the Abu Dhabi Exchange (ADX) on Thursday.
The remaining 20% is owned by Uzbekistan’s JSC “Talimarjan Issiqlik Elektr Stansiyasi” (TIES), which also owns part of the main project company.
This deal supports Uzbekistan’s plan to privatize its power industry. It’s part of a partnership between Uzbekistan and the UAE. Mubadala and TAQA will use their global experience to help improve Uzbekistan’s power sector.
The TPP1 power plant produces 875 megawatts (MW) of electricity. It has a 25-year agreement to sell electricity to JSC “Uzenergosotish” (UES), which took over from the National Electric Grid of Uzbekistan. This plant is important for meeting the country’s growing need for electricity, as the population and economy grow fast.
Hammad Rahman, who leads Asia Pacific Infrastructure at Mubadala, said that efficient natural gas power plants like TPP1 are key to moving toward cleaner energy.
He also said that demand for electricity in Uzbekistan is rising quickly, and Mubadala is excited to work with TAQA and TIES to provide stable, affordable, and secure power to people and businesses across the country.
In May 2023, TAQA and the Uzbekistan government agreed to look into over $3 billion worth of opportunities for new power plants and infrastructure.
Big Picture
TAQA’s investment in TPP1 is part of its plan to grow power generation to 150 gigawatts (GW) by 2030. About 100 GW of that goal will come from renewable energy.
Published: 30th May 2025
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