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Aksa Enerji Üretim A.Ş. ("Aksa Energy") has signed an agreement with the Ministry of Energy of Uzbekistan for the construction of a 240 MW natural gas combined cycle (CCGT) power plant in Tashkent, the capital of Uzbekistan, and sale of the energy generated in the plant based on a guaranteed capacity payment for a duration of 25 years.
Aksa Energy will relocate the necessary equipment from Antalya Ali Metin Kazancı Natural Gas Combined Cycle Power Plant, some of which had left the transmission system following the partial license cancellation in 2018, to Uzbekistan, and construct a 240-MW natural gas combined cycle power plant. The plant will be operated for 25 years with a guaranteed-capacity payment set in USD, and the natural gas to be used for electricity generation at the plant will be provided by Uztransgaz, the natural gas supply company of Uzbekistan. The construction phase will start following site allocations, and commissioning of the plant is planned within maximum twelve months once the construction kicks-off. It will be announced to the public on Public Disclosure Platform when the conditions for the agreement to become effective are satisfied.
Aksa Energy's CCGT Plant to be constructed in Tashkent will generate approximately 2.0 billion kWh of electricity per year. This new power plant will contribute materially to energy diversification and savings strategy of the Government of Uzbekistan.
As an independent power producer, which have installed and operated more than 30 power plants using various energy sources in Turkey to date; Aksa Energy has been focusing on overseas investments in line with its globalization strategy. This agreement with Uzbekistan is an important milestone in continued execution of our Company's globalization strategy, following the establishment of power plants in TRNC, Ghana, Madagascar and Mali.
Respectfully announced to the public.
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We proclaim that our above disclosure is in conformity with the principles set down in “Material Events Communiqué” of Capital Markets Board, and it fully reflects all information coming to our knowledge on the subject matter thereof, and it is in conformity with our books, records and documents, and all reasonable efforts have been shown by our Company in order to obtain all information fully and accurately about the subject matter thereof, and we’re personally liable for the disclosures.