Masdar inks 500 MW Uzbek deal

16 June 2020

Sian Crampsie

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.

Linkedin Linkedin   
Privacy Policy
We have updated our privacy policy. In the latest update it explains what cookies are and how we use them on our site. To learn more about cookies and their benefits, please view our privacy policy. Please be aware that parts of this site will not function correctly if you disable cookies. By continuing to use this site, you consent to our use of cookies in accordance with our privacy policy unless you have disabled them.