The Ministry of Energy of Uzbekistan (pictured) has reached financial close on a 500MW wind farm close to the city of Zarafshan in the country’s Navoiy region.
The wind farm will be built by Abu Dhabi-based Masdar.
Upon completion, the wind farm will be Central Asia’s largest, powering 500,000 homes and replacing 1.1 million tonnes of CO2 annually, according to the Ministry.
Commercial operations are expected to commence by the end of 2024, and the government of Uzbekistan expects over US$600m (€600m) in Foreign Direct Investment to flow into the country from the project.
Masdar is a trusted partner of Uzbekistan and is currently contracted to develop an additional 890MW of PV capacity at sites in the Samarkand, Jizzakh and Sherabad regions over the coming years.
First Deputy Energy Minister of Uzbekistan Azim Akhmedkhadjayev said: “Today, we took a leap forward in securing Uzbekistan’s clean energy future – together with our valued partner Masdar.
“With financial close achieved, the ambitious Zarafshan project is on track to begin commercial operations by the end of 2024, displacing 1.1 million tonnes of CO2.
“Our country has vowed to satisfy 25% of its energy needs with renewables by 2030, and reach carbon neutrality in 2050.
“The Zarafshan project, Central Asia’s largest wind farm, will be a major contributor to these goals.”
Masdar chief executive Mohamed Jameel Al Ramahi said: “Today we are celebrating reaching a significant milestone in this landmark project, one that takes Uzbekistan a step closer to achieving its ambitious renewable energy goals.
“Uzbekistan is a key strategic investment destination for Masdar, and we look forward to continuing to develop and grow our strong portfolio of projects in the nation.”
Following last year’s launch of the 100MW Nur Navoiy PV power plant – Uzbekistan’s first independent solar power producer – the Zarafshan wind farm is the second utility-scale renewables project developed by Masdar in Uzbekistan.
PPAs for the plant’s output have been in place with the Ministry of Investments and Foreign Trade and JSC National Electric Grid of Uzbekistan since June 2020.
Uzbekistan’s long-term strategy to diversify its energy mix targets 8GW of solar and wind power by 2026 and 12GW of renewable sources by 2030.