April 5, 2021 Read More →

Masdar triples size of Uzbekistan wind project to 1.5GW

REVE:

Masdar, one of the world’s leading renewable energy companies, has signed an Implementation Agreement with the Government of the Republic of Uzbekistan to extend the capacity of its utility-scale wind farm project – the first such project in Uzbekistan – to up to 1.5 gigawatts (GW).

H.E. Sardor Umurzakov, Deputy Prime Minister and Minister of Investments and Foreign Trade for the Republic of Uzbekistan, said, “Mobilisation of renewable energy potential in Uzbekistan would provide a significant contribution to sustainable economic growth and fighting climate change. Along with that, the expansion of clean power generation capacities by Masdar will support our objective to double the volume of electricity generation by 2030. Masdar will become a strong bridge connecting our countries, through which new Emirati companies will also invest in Uzbekistan.”

Masdar entered into bilateral agreements with the Government of Uzbekistan last year to develop, build and operate the 500-megawatt (MW) wind farm project, its second utility-scale clean energy project in the country, and the largest wind farm in Central Asia. The project will attract foreign direct investment of more than USD 600 million. Extending the capacity of the project, located in the Zarafshan district of the Navoi region, to as much as 1.5 GW will further help Uzbekistan achieve its objectives of adding up to 3 GW of wind energy and meeting 25 percent of its electricity needs from renewable sources by the end of the decade.

The 500 MW Zarafshan wind farm is expected to begin commercial operation by the end of 2024. At a capacity of 500 MW, the project would provide enough electricity to power 500,000 homes, while displacing 1.1 million tons of carbon dioxide per year.

Mohamed Jameel Al Ramahi, Chief Executive Officer of Masdar, said the signing of the expansion agreement “highlights the significant progress we have made, not only on this project but in helping the Government of the Republic of Uzbekistan to achieve its clean energy and climate change objectives. As a global leader in the development of utility-scale wind power, Masdar is proud to support Uzbekistan’s low-carbon energy strategy, and to strengthen our partnership with the Government to drive sustainable development.”

Last December, the firm had financial close on the 100 MW Nur Navoi Solar Project – Uzbekistan’s first successfully-financed independent power producer (IPP) solar project. Masdar signed a PPA and Government Support Agreement with the Government of the Republic of Uzbekistan in November 2019 to design, finance, build and operate the solar plant. Masdar was announced as the winning bidder for the solar project after tendering the lowest tariff of 2.679 US cents per kilowatt-hour in a competitive auction.

More: Masdar agrees to expand Uzbekistan wind farm capacity to 1.5 GW

Comments are closed.