BAKU, Azerbaijan, May 17. The UAE's Masdar will carry out the construction of two renewable energy projects in Uzbekistan, Trend reports via the Ministry of Investments and Foreign Trade of Uzbekistan.
An agreement was signed between the Ministry of Investment, Industry and Foreign Trade, the Ministry of Energy and Masdar for the joint development of 2,150 MW and 500 MW solar PV and wind power plant projects worth $2.6 billion.
Back in 2021, Masdar signed agreements with the Uzbek Ministry of Investments, Industry, and Trade, and the JSC National Electric Grid to design, finance, build and operate three solar power plants – the 457 MW Sherabad region, and 220 MW each Samarkand and Jizzakh regions of Uzbekistan. The company plans to put the plants into operation in 2024.
Masdar is already making an active contribution to Uzbekistan’s clean energy objectives, with the 100 MW Nur Navoi Solar project – the nation’s first successfully financed independent power producer solar project – having been operational since 2021.
Last year, Masdar achieved financial close on the 500 MW Zarafshan wind project, Uzbekistan’s first utility-scale wind farm, and the largest in Central Asia. At the end of last year, Masdar was also awarded the Bukhara Solar PV project, which includes 250 MW solar PV capacity and a 62 MW battery energy storage system.