Renewable energy firm Masdar has signed a deal with the government of Uzbekistan to develop a 500 MW wind farm project in the country.
The UAE-based company signed a power purchase agreement (PPA) and Investment Agreement with Uzbekistan’s Ministry of Investments and Foreign Trade and JSC National Electric Grid in a ‘virtual’ ceremony in early June.
Under the agreements, Masdar will design, finance, build and operate a 500 MW project in the Zarafshon district of Navoi Region, with commercial operation expected in 2024.
Mohamed Jameel Al Ramahi, Chief Executive Officer of Masdar, said: “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 500 MW 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.”
The deal follows a 2019 agreement between Masdar and Uzbekistan for the design, finance, construction and operation of the country’s first public-private partnership (PPP) solar power plant. Masdar was announced as the winning bidder for the solar project after tendering the lowest tariff of 2.679 US cents per kWh in a competitive auction to develop the 100 MW utility-scale PV solar plant, which will be located in the Navoi region.