CAN YOU GIVE US AN OVERVIEW OF AKSA ENERGY AND ITS KEY PROJECTS?

 

Established in 1997, Aksa Energy is a global energy company operating across 8 countries with more than 2,700 MW installed capacity. The company delivers all steps internally in power plant installation procedures – from project development to procurement, construction, and installation – with its highly skilled technical teams. Aksa Energy has built and operated more than 30 power plants using various energy sources to date, including coal, fuel oil, biogas, natural gas, wind, and hydroelectric.

 

In 2010, Aksa Energy’s shares were listed on Borsa Istanbul under the ticker AKSEN:TI. Today, the company is among the top 30 listed companies in Borsa Istanbul and traded on BIST 30, BIST Electricity, BIST Sustainability, BIST Corporate Governance and MSCI Türkiye indices. Aksa Energy aims to expand its global presence further and closely monitors new investment opportunities in all geographies with energy demand including Central Asia.

 

HOW IS AKSA ENERJI CONTRIBUTING TO UZBEKISTAN'S BOLD ENERGY OBJECTIVES?

 

Uzbekistan with its growing GDP and 36 million population is a promising country in Central Asia with its current and future energy demand. When we look at pre-pandemic figures, thanks to the country’s strategic location on the ancient east-west trade corridor, Uzbekistan has an average of 5-6% annual GDP growth. In 2022, Uzbekistan's economy grew 5.7% year-on-year and Asian Development Bank projects 5% GDP growth for the country both in the following two years.

 

A sustainable upward trend in economic growth offers a secure and sustainable demand for energy. Such propitious view not only bolstered our belief in the future of the country but also let Aksa Energy to commission 3 power plants with a total installed capacity of 740 MW in Tashkent and Bukhara in 12 months. The U$450 million project is also crowned with being the largest Turkish energy investment in Uzbekistan.

 

WHAT ARE THE COMPANY'S LONG-TERM GOALS IN UZBEKISTAN?

 

Uzbekistan is having a rapid progress in modernizing its power infrastructure as part of its economic growth targets as well as for the country’s long-term objective to reach net-zero carbon emissions by 2050. Aksa Energy’s 3 natural gas combined cycle power plant located in Tashkent and Bukhara cities are making direct positive impact on country’s ambitious economic and environmental goals. Our natural gas fired power plants support Uzbekistan’s economy through offering a more efficient energy generation through its modern technology as well as by running on a relatively low carbon natural resource of indigenous natural gas. Aksa Energy’s power plants in Uzbekistan with 740 MW total installed capacity also address the growing demand for reliable and flexible power and also balance country’s renewable energy generation.

 

Today, more than 7,000 MW of Uzbekistan's energy capacity is located in Tashkent province and 270 MW in the city of Bukhara. Aksa Energy’s 2 power plants with total installed capacity of 470 MW in Tashkent province constitutes approximately 6.6% of the province’s installed capacity and generates 10% of the energy demand in capital. Our 270 MW Bukhara power plant is the sole power plant of the city and meets 55% of Bukhara’s energy demand. Aksa Energy, as a global energy company, is very proud of supplying Uzbekistan’s energy and following the Uzbek energy market and projects closely where energy demand is highly concentrated.

 

The company's contribution to Uzbekistan’s economy is not limited to energy generation but also covers local development and corporate social responsibility. We prioritize local employment in our operations around the globe in order to empower local communities, share knowledge and thrive together. With this respect, 70% of our employees working in our Tashkent and Bukhara power plants are local as of April 2023.

 

Commissioning 3 natural gas combined cycle power plants with total installed capacity of 740 MW in 12 months in Uzbekistan has became a reference project for Aksa Energy in the region and opened doors to neighbouring countries such as Kazakhstan. In the third quarter of 2022, Aksa Energy won the tender for the Qyzylorda combined heat and power plant organized by the Ministry of Energy of the Republic of Kazakhstan, which will have an installed capacity of 240 MW when completed. The Qyzylorda combined heat and power plant is projected to be operational in 2025.