Under the agreements, Masdar will develop, build, and operate the wind farm project, which will be located in the Zarafshon district of the Navoi region. Commercial operation is expected to be achieved in 2024
June 11, 2020. By News Bureau
Masdar Clean Energy has announced that it has signed an agreement with the Ministry of Investments and Foreign Trade of the Republic of Uzbekistan and JSC National Electric Grid of Uzbekistan to design, finance, build and operate a 500-megawatt (MW) utility-scale wind farm project in the Central Asian country.
The Power Purchase Agreement (PPA) and Investment Agreement was signed by Sardor Umurzakov, Deputy Prime Minister and Minister of Investments and Foreign Trade, Dadajon Isakulov, Chairman of JSC National Electric Grid, and Mohamed Jameel Al Ramahi, Chief Executive Officer of Masdar.
Under the agreements, Masdar will develop, build and operate the wind farm project, which will be located in the Zarafshon district of the Navoi region. Commercial operation is expected to be achieved in 2024.
Deputy Prime Minister Umurzakov, said, “Masdar is our long-term trusted partner in expanding our renewable energy capacities and bringing their well-known international expertise to the country. This energy project with Masdar clearly illustrates the testimony to the strong commitment by the Government of Uzbekistan to increasing private sector participation in the country and support our ambitious clean energy goals.”
The declaration comes after Masdar signed a Power Purchase Agreement (PPA) and Government Support Agreement (GSA) with the Government of the Republic of Uzbekistan in November 2019 to design, finance, build and operate the country’s first public-private partnership (PPP) solar power plant. The gulf company was announced as the winning bidder for the solar project after tendering the lowest tariff of 2.679 US cents per kilowatt-hour in the programme’s competitive auction to develop the 100 MW utility-scale PV solar plant, which will be located in the Navoi region.
Al Ramahi said “Masdar is proud to be cooperating 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 modernize its power sector but also invest in energy security. As a global leader in the development of utility-scale wind power, Masdar is committed to advancing clean-tech innovation both regionally and internationally by deploying the latest technologies at scale and enhancing their commercial viability.”
AI will move from being a good-to-have technology to a must-have technology
We Need to Create Employment Opportunities that would Inspire Women to Join Clean Energy Space
There Must be a Penal Mechanism on Discoms for Delay in Signing PPAs, Payments Release
India’s Power Sector Must be Financially, Physically Resilient to Secure Investments it Needs