Turkish company investing $250 million for construction of power plant in Uzbekistan

On November 9, a ceremony was held to sign an investment agreement between the Minister of Investment, Industry and Trade Laziz Kudratov and the Chairman of the Board of AKSA Enerji Cemil Kazanci, Azernews reports, citing Kun,uz News Agency.

According to the document, AKSA Enerji will invest $250 million in the construction of a 400 MW gas piston power plant in the Nishan district (Kashkadarya region), which will operate on a PPP basis.

The Turkish company will carry out the design, financing, construction and operation of the power plant during the implementation of the project for 25 years.

The start of construction work is scheduled for December 2023. The power plant is scheduled to be commissioned at the end of 2024.

As part of the visit of the Turkish company, an agreement on the purchase of electricity was also signed between JSC National Electric Networks of Uzbekistan and AKSA Enerji, according to which the Uzbek side will carry out a guaranteed purchase of electricity for 25 years from the Turkish investor.

It is worth noting that AKSA Enerji is part of the Kazanci Holding structure. The holding implements projects not only in the energy sector, but also in agriculture and tourism. The company is building power plants in a number of countries: Turkey, Ghana, Madagascar, Mali, Congo and Uzbekistan.