Masdar, UAE announced in a statement that it has signed agreements to develop two solar photovoltaic (PV) power projects in Uzbekistan for a combined capacity of 440 megawatts (MW).
Under the agreements, Masdar will develop, build and operate the plants, which will each have a capacity of 220 MW, on a public-private partnership (PPP) basis.
The Projects locations is in the Samarkand and Jizzakh regions of Uzbekistan.
Commercial operation of the projectsis expected to start in the first quarter of 2023.
The International Finance Corporation acted as lead transaction advisor, assisting the Government of Uzbekistan to structure the projects and organise the selection of the winning bidder through an open tender process.
Sardor Umurzakov, Deputy Prime Minister and Minister of Investments and Foreign Trade of Uzbekistan, signed the Investment Agreements for both projects with Mohamed Jameel Al Ramahi, Chief Executive Officer of Masdar, in Tashkent .
The Power Purchase Agreements were signed by Sobirjon Artikov, First Deputy Chairman of the Board of JSC National Electric Grid of Uzbekistan, and Masdar’s Al Ramahi.
In May, Uzbekistan’s Ministry of Energy announced that Masdar was selected for both projects based on a competitive tender.
Masdar has also won the tender for another solar project in Uzbekistan, for a 457 MW photovoltaic solar power plant in the Sherabad district of the Surkhandarya province.
The new project wins add to Masdar’s existing projects in Uzbekistan, with the company last year announcing financial close on the 100 MW Nur Navoi Solar Project – Uzbekistan’s first successfully financed independent power producer (IPP) solar project.
Masdar has also agreed to develop, build and operate a 500 MW wind farm in Zarafshan, and in April, the company signed an Implementation Agreement with the Government of Uzbekistan to extend the capacity of the project to up to 1.5 gigawatts, making it the largest in Central Asia.
Under its renewable energy programme, Uzbekistan aims to deploy 5 GW of solar and 3 GW of wind power capacity by 2030, as it targets meeting 25 percent of electricity needs from renewable sources by that year, statement said.
