BAKU, Azerbaijan, Apr.5
Deputy Prime Minister, Minister of Investments and Foreign Trade of Uzbekistan, Sardor Umurzakov, together with the leadership of the UAE ‘Masdar’ company represented by Chief Executive Officer (CEO), Mohamed Jameel Al Ramahi, studied the construction of the first 100 MW photovoltaic power plant in Uzbekistan in the Karmanin District of the Navoi region on April 2, 2021, Trend reports citing Uzbek media.
During a visit to the production site of Nur Navoi Solar company, established by the UAE investor and the operator of the project, the parties got acquainted with the construction and installation work carried out at the facility, which began in the third quarter of 2020, the progress achieved and plans for the near future.
Currently, the facility with a total area of 268 hectares is working on the installation of technological equipment, panels, inverters and transformers. Commissioning of the photovoltaic power plant is expected by September 1, 2021.
The volume of direct investments of Masdar attracted within the project is about $100 million, and the launch of the photoelectric power station will ensure the generation of electricity in the amount of 260 million kWh per year.
On October 4, 2019, the UAE company became the winner of the first tender in the history of Uzbekistan to select a foreign investor to attract investments in public-private partnerships (PPPs) in solar energy. Masdar offered one of the lowest tariffs in the world at $2.67 per kWh. According to an investment agreement signed with the Ministry of Investment and Foreign Trade in November 2019, Masdar has committed to design, finance, build and operate a photovoltaic plant for 25 years.
The International Finance Corporation (IFC) was hired as a consultant on the transaction, which assisted the Ministry of Investment and Foreign Trade in developing the relevant documentation and holding tenders, in which more than 40 companies from different countries took part.
Following the visit, the parties discussed further steps for the high-quality and timely implementation of the project and expressed their commitment to providing comprehensive support in resolving issues that may arise during the construction and launch of the photovoltaic power plant.