Dutch firm wins contract to develop $1.2bn gas-fired IPP in Uzbekistan

Uzbekistan’s Ministry of Energy has awarded a contract to Dutch energy company Stone City Energy a contract to develop a 1.56GW thermal power plant in the Surkhandarya region of Uzbekistan

Uzbekistan’s Ministry of Energy has awarded a contract to Dutch energy company Stone City Energy a contract to develop a 1.56GW thermal power plant in the Surkhandarya region of Uzbekistan.

The ministry signed an investment agreement and power purchase agreement (PPA) for the Surkhandarya independent power producer (IPP) project with Stone City Energy on 19 April. The Dutch firm will design, build, finance, operate and maintain the plant for a period of 25 years.

The total project cost is estimated to be about $1.2bn, with the plant scheduled to be operational by the end of 2024.

The plant will feature HL steam and gas turbine units manufactured by Germany’s Siemens Energy.

Synergy Consulting provided financial advisory (FA) services to Stone City Energy for the project.

Energy & Utilities reported in March that Saudi Arabia’s Acwa Power had reached financial close for a large combined-cycle gas turbine (CCGT) IPP in Uzbekistan.

Once completed, the 1.5GW Sirdarya IPP is expected to meet 15 per cent of Uzbekistan’s power demand and will form 8 per cent of the country’s total power capacity.

22 April 2021

Energy & utilities