United Arab Emirates-based renewables developer Masdar has signed an agreement with the Government of Uzbekistan to build a 500MW wind project.
The agreement, with the Ministry of Investments and Foreign Trade of the Republic of Uzbekistan and JSC National Electric Grid of Uzbekistan, covers the design, financing, construction and operation of the wind farm.
The wind farm will be located in the Zarafshon district of the Navoi region.
Commercial operation is expected to occur in 2024.
The power purchase agreement (PPA) and investment agreement was signed during a virtual ceremony by Uzbekistan’s deputy Prime Minister and minister of Investments and Foreign Trade, Sardor Umurzakov, JSC National Electric Grid chairman Dadajon Isakulov and Masdar chief executive Mohamed Jameel Al Ramahi.
Umurzakov said: “Masdar is our long-term trusted partner in expanding our renewable energy capacities and bringing their well-known international expertise to the country.
“This energy project with Masdar clearly illustrates the testimony to the strong commitment by the Government of Uzbekistan to increasing private sector participation in the country and support our ambitious clean energy goals.”
Al Ramahi added: “Masdar is proud to be collaborating with the Government of the Republic of Uzbekistan on our second utility-scale clean energy project in the country.
“The 500MW wind farm supports Uzbekistan’s long-term renewable energy ambitions and its strong commitment to not only modernise its power sector, but also invest in energy security.
“As a global leader in the development of utility-scale wind power, Masdar is committed to advancing clean-tech innovation both regionally and internationally by deploying the latest technologies at scale and enhancing their commercial viability.”
In November 2019 Masdar signed a PPA and government support agreement with the Government of the Republic of Uzbekistan to design, finance, build and operate the country’s first public-private partnership solar photovoltaic power plant.
Masdar was announced as the winning bidder for the 100MW solar project after tendering the lowest tariff in the programme’s competitive auction.
The PV farm will also be located in the Navoi region.
The 500MW wind project and 100MW solar project will help Uzbekistan reach its goal of developing 5GW of renewable energy capacity by 2030.
The power generating capacity of the renewable energy projects in which Masdar is a partner totals more than 5GW.