BAKU, Azerbaijan, Sept. 12
By Klavdiya Romakayeva - Trend:
The Ministry of Investment and Foreign Trade of Uzbekistan and Cengiz Enerji Turkish energy company have agreed to implement a project to build a thermal power plant with a capacity of 240 MW in the Tashkent region by 2022, Trend reports with reference to the Ministry of Investment and Foreign Trade in Uzbekistan.
The construction of the thermal power plant will ensure the attraction of direct Turkish investments in the amount of up to $150 million, the creation of 500 new jobs during the construction period, and 100 jobs during the operation of the power plant.
It will also ensure the generation of available electricity in the amount of two billion kWh per year, which, in turn, will allow diversifying the energy balance of Uzbekistan, significantly reducing the consumption of natural gas spent on electricity generation.
The signing ceremony of the Investment Agreement between Cengiz Enerji and the Ministry of Investments and Foreign Trade, as well as the Agreement with National Electricity Networks of Uzbekistan JSC on the purchase of electricity from a Turkish company for a period of 25 years took place.
The construction work is planned to begin by the end of this year with the commissioning of the facility within 12 months from the start of construction.
Cengiz Holding established Cengiz Enerji in 2000 to meet current and future demand in the energy industry. Cengiz Holding entered the energy sector through power generation leasing agreements with EÜAŞ (Elektrik Üretim A.Ş.) and tenders based on the build-operate-transfer business model.
The company’s investment in the industry has been guided by today’s conditions and predictions that demand will increase in the future due to the growing gap between power generation and consumption. The company is currently engaged in electricity generation and distribution, marketing, sales, trading, and natural gas distribution, as well as building natural gas combined cycle power plants.
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