TASHKENT, Uzbekistan, March 14. Emirati Masdar Energy Company signed an agreement with Uzbekhydroenergo JSC on exploring the possibility of building pumped storage hydroelectric power plants throughout Uzbekistan, Trend reports.
According to Uzbekhydroenergo, the main purpose of the agreement is to solve problems with disruptions in electricity supply.
According to the International Hydropower Association (IHA), pumped storage hydroelectric power plants account for more than 90 percent of the world's installed energy storage capacity. Their capacity could reach 240 GW by 2030.
Despite an extensive portfolio of clean energy projects (Masdar's solar and wind power developments with a total capacity of 1.4 GW were introduced into Uzbekistan's energy system in December 2023), and this agreement represents the company's first entry into Uzbekistan's pumped storage hydro sector.
Meanwhile, Masdar's total investment in Uzbekistan has reached $4 billion, with 1.4 GW of green energy from its projects now part of Uzbekistan's national power grid.
In 2023, the company signed investment agreements to build a large wind power plant (WPP) with a capacity of 2,000 MW and energy storage facilities with a capacity of 1,150 MW in Uzbekistan.