The key facts

  • Cengiz Holding plans to launch a 550 MW combined-cycle power plant in the Jizzakh region by the end of 2026.
  • The third project is worth about $800 million, and the holding's total investments in Uzbekistan have exceeded $900 million.
  • The president proposed that the company submit proposals on participation in the construction of New Tashkent.

Plans for the Jizzakh power plant

Turkey's Cengiz Holding plans to commission a 550 MW combined-cycle power plant in Uzbekistan's Jizzakh region by the end of 2026. This was announced by the holding's chairman of the board Mehmet Cengiz at a meeting with President Shavkat Mirziyoyev on October 16. According to him, after the Jizzakh facility is launched, the total installed capacity of the company's facilities built in the country will reach 1010 MW. Meanwhile, the website of Cenergo, which represents the holding's energy projects in Uzbekistan, lists 480 MW of operating capacity and 1030 MW including Jizzakh.

Investments and possible new projects

Cengiz said the holding is implementing its third energy project in Uzbekistan, worth about $800 million, and the company's total investment in the country has exceeded $900 million. The company is considering the possibility of implementing a fourth project, and later, commenting on the outcome of the meeting with the head of state, confirmed its interest in expanding its activities: 'We intend to implement a fourth, and possibly a fifth, project here.' According to him, Cengiz Holding has energy facilities with a total installed capacity of about 6000 MW, as well as enterprises producing copper, cobalt and aluminium. The holding operates outside Turkey, including in Uzbekistan, Kyrgyzstan, Azerbaijan, Syria, Romania and the United Kingdom.

Discussion with the president

At an open dialogue with investors in the fuel and energy sector, Cengiz drew attention to the need to develop infrastructure for energy projects, including gas supply, power transmission lines and distribution networks. He also noted that the holding is considering expanding investments not only in energy but also in other sectors of Uzbekistan's economy. In response, President Shavkat Mirziyoyev proposed that the head of the holding submit proposals on participation in the construction of New Tashkent, taking into account the company's experience in infrastructure and construction. According to the presidential press service, the talks also covered prospects for building new thermal power plants, modernising distribution power grids and expanding cooperation in the geological sector.

Project background

Earlier, with the participation of Cengiz Holding, two thermal power plants were commissioned in Uzbekistan — in the Tashkent and Syrdarya regions; according to previously published official data, their total installed capacity is 460 MW. In November 2023, the president signed a resolution on the construction of a 550 MW combined-cycle power plant in the Sharof Rashidov district of the Jizzakh region. At that time, the project cost was estimated at $500 million, with commissioning planned for 2025. The plant was expected to generate more than 4 billion kWh of electricity annually and save at least 700 million cubic metres of natural gas. The resolution provides for electricity purchases by the company 'National Electric Grid of Uzbekistan' for 25 years; obligations to supply the plant with gas and technical water are assigned to the relevant state organisations.