PROJECT

Projects

Summary of Advisory Services Project Information

Project Number

604416

Primary Business Area

Transaction Advisory

Disclosure Date

Oct 20, 2021

Country

Uzbekistan

Region

Central Asia and Turkiye

IFC Approval Date

Jun 8, 2020

Status

Completed

Estimated Total Budget

Estimated Total Budget Pending
(Project budget includes all project-funded activities)

Last Updated Date

Jan 19, 2025

Project Estimated Start Date

May 14, 2020

Project Estimated End Date

Dec 31, 2021

Project Description

The GoU has announced a plan to increase the generating capacities of the country by more than 2 times till 2030. The ambitious plan requires heavy investments in the energy sector and the state plans to attract private sector financing and knowledge to realize the expansion. The governments aggressive strategy is due to the need for investments to replace the very old existing TPPs where 40% of total installed generation capacity is past or close to the end of its operating life. One such plant is the Talimarjan TPP for which the GoU has entered into a bilateral agreement with Mubadala Investment Company to acquire and expand the existing TPP. The IFC team will advise the GoU on negotiating with Mubadala the terms and conditions of the investment, to be detailed in the Project Agreements related to (i) the sale of the existing units of Talimarjan TPP (TPPO and TPP1) and, (ii) the agreement to design, build, finance and operate the a new CCGT asset (TPP2).

Development Results

E&S Risks / Impacts and Mitigation