TASHKENT, Uzbekistan, December 7. UAE’s Abu Dhabi Future Energy Company – Masdar will build a 250 MW photovoltaic plant in Uzbekistan’s Bukhara region, Trend reports.
The corresponding resolution was recently signed by President of Uzbekistan Shavkat Mirziyoyev.
Moreover, the company will help Uzbekistan establish a 63 MW electricity storage system. The cost of the whole project is estimated at $273 million.
As per the resolution, Masdar will carry out the design, financing, construction and operation of a solar photovoltaic plant and an electric energy storage system.
Masdar undertakes to provide a bank guarantee of a first-class foreign bank for $50 million as collateral for the duration of construction. To implement the project, Nur Bukhara Solar PV LLC was established as a private partner in Uzbekistan.
Earlier this year, the Ministry of Investment, Industry and Foreign Trade, the Ministry of Energy and Masdar have signed an agreement 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.