Phanes Group, a solar energy developer headquartered in Dubai, has signed a power purchase agreement and investment agreement for a 200 MWac grid-connected solar PV plant in Nurata, in the Navoi Region.
The PPA and IA (which is between Phanes Group and the government of Uzbekistan) includes the technical and commercial terms for building, owning and operating a 200 MWac solar PV project including facilities connecting to the Khimiya 220/110 kV substation.
The project will significantly increase Uzbekistan’s current solar PV installed capacity and contribute to the government’s plans to boost energy generation capacity to 30 GW, including 5 GW of solar, by 2030.
“Uzbekistan earned the Economist’s title of country of the year in 2019 and the nation is now regarded as a rising powerhouse in Central Asia,” commented Martin Haupts, CEO of Phanes Group.
Ravnaq-bank JSC will act as a co-ordinator between Phanes Group and the state organisations of Uzbekistan. Earlier, Ravnaq-bank JSC and Phanes signed a memorandum of co-operation in implementation of projects and initiatives.
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