The consortium won the tender on modernization of Takhiatash thermal power plant. The tender was announced in the end of 2015.

The tender was attended by 10 contenders from China, South Korea and Turkey. In line with the result of the tender, the South Koran consortium won the tender on project “Construction of two combined cycle gas turbine units with the capacity of 230-280 MW at Takhiatash thermal power plant”, offering price for US$475 million.

Within the project, South Korean companies will construct two combined cycle gas turbine units with the capacity of 230-280 MW at Takhiatash thermal power plant and dismantle old units.

The term of modernization is 2.5 years. It is expected that the contract will be signed by the end of December 2016.

The project’s cost is US$678.2 million. The project will be funded due to loan of the ADB for US$300 million and loan of the Fund for Reconstruction and Development of the Republic of Uzbekistan for US$230.7 million to cover the part of the power plant "turnkey" contract and related contingencies. Uzbekenergo will also use its own funds to finance the project.

The capacity of Takhiatash thermal power station is 730 megawatts. The first energy unit was commissioned in 1956 and last (fifth) – 1976.

The Takhiatash TPP is the main source of power supply in the Karakalpakstan and Khorezm regions. In 2012, power consumption in these regions was 2,293 mln. kilowatt-hours (kWh) with maximum load of 466 megawatts (MW). By 2020, the power consumption is expected to exceed 3,620 mln. kWh, with maximum load of 620 MW.