The Mubadala and TAQA companies of the United Arab Emirates have signed an agreement to invest in Talimarjan Thermal Power Plant.

The event, held on this occasion in Tashkent, was attended by the Minister of Energy and Infrastructure Suhail Al Mazrouei, heads of Mubadala and TAQA companies, the Deputy Prime Minister – Minister of Investments and Foreign Trade Jamshid Khodjayev, heads of the Ministry of Energy, JSC National Electric Networks and Thermal Power Plants.

It is envisaged to establish a joint venture to manage the Talimarjan TPP. The investments of the UAE companies will be used to pay for an 80 percent share in the authorized capital of the joint venture ($300 million), as well as to pay off an earlier loan from Talimarjan TPP JSC – about $700 million.

As part of the next stage of cooperation, the UAE companies will invest in the creation of additional production capacities at Talimarjan TPP.

UzA