On November 9, 2023, an Investment Agreement signing ceremony was held between Laziz Kudratov, Minister of Investment, Industry and Trade of the Republic of Uzbekistan, and Cemil Kazanci, Chairman of the Board of AKSA Enerji.

According to the document, AKSA Enerji will invest $250 million in the construction of a 400 MW gas-piston power plant in the Nishan district of Kashkadarya region on the terms of a public-private partnership.

The company will carry out the design, financing, construction and operation of the power plant during the entire period of the project – 25 years.

Construction work is scheduled to begin in December 2023 with the commissioning of the power plant at the end of 2024.

During the visit of the Turkish company, an agreement on the purchase of electricity was also signed between JSC "National Electric Networks of Uzbekistan" and AKSA Enerji, according to which the Uzbek side will carry out a guaranteed purchase of electricity for 25 years from the Turkish investor.

For reference: AKSA Enerji is part of Kazanci Holding, which was founded in 1960. The holding develops projects not only in the energy sector, but also in agriculture and tourism. The company is also building power plants in a number of countries: Türkiye, Ghana, Madagascar, Mali, Congo and Uzbekistan.