DOHA, QATAR: Nebras Power Investment Management B.V. (NPIM), a wholly owned subsidiary of Nebras Power QPSC, has efficiently entered right into a long-term Power Purchase Agreement (PPA) in Uzbekistan to assemble and function the Syrdarya II Combined Cycle Gas Thermal (CCGT) energy plant within the central area of the country.
The energy buy settlement was formalized on the 2022 Tashkent International Investment Forum with Uzbek authorities officers and members of Nebras Power’s senior administration team in attendance for the signing ceremony.
Remarking on the announcement of Nebras entering right into a long-term energy settlement in a vibrant new market, Nebras Power’s Chairman Mohammed Nasser Al-Hajri said: “Our overarching goal has always been to broaden and enrich our global asset portfolio. With our expansion into Uzbekistan, we haven’t solely once more efficiently superior this mission, however we’re moreover endowing communities and cities all through the nation with entry to a devoted and clear supply of energy.”
Nebras’s CEO Khalid Mohammed Jolo additionally expressed his pleasure on the corporate becoming a main energy participant within the Central Asian country: “We are proud to be awarded with this chance to develop and handle a large-scale Combined Cycle Gas Thermal (CCGT) energy plant in Uzbekistan. Moreover, Nebras guarantees to ship significant technical and project experience to support and strengthen the country’s energy industry.”
For their inaugural foray into Uzbekistan, Nebras Power partnered with an worldwide consortium of energy companies, together with French firm EDF (Électricité de France) and Japanese-based Sojitz Corporation and Kyuden Group. The alliance submitted the winning tender to assemble and handle the 1600 MW energy facility within the area of Syrdarya, which is found roughly 150 km south of the capital metropolis of Tashkent.
Syrdarya II is contracted to present energy to the National Power Grid of Uzbekistan as a half of a 25-year off-take agreement. It will be one of many nation’s largest energy producing facilities upon completion and can be instrumental in serving to the nation meet its rising energy calls for from each industry and residential sectors.
Enersok, a newly formed project company, will be tasked with finishing up construction and administration of Syrdarya II. As a half of the gross sales buy agreement, Nebras will administration 33.3% of Enersok, whereas the remaining shares will be divided amongst EDF, Sojitz and Kyuden.
The constructing of Syrdarya II will follow worldwide guidelines on sustainability and conservation. Operations and upkeep will additionally adhere to stringent industry and environmental emission requirements and protocols. The project has not but damaged ground, however construction is anticipated to start by the finish of this year and completion is projected by finish of 2025 or early 2026.
Nebras Power Q.P.S.C. (“Nebras”) headquartered in Doha, State of Qatar, is a three way partnership of Qatar Electricity and Water Company (“QEWC”) (60%) and Qatar Holding (“QH”) (40%). Nebras is a strategic investor within the energy and water sectors with a global vision. Its goal is a well-balanced funding portfolio in phrases of technology mix, markets and greenfield development vs M&A. Nebras is dedicated to offering safe, sustainable, environment friendly and environmentally sound energy options for future generations.
www.nebras-power.com