Home News Masdar Signs PPA Agreement With Uzbekistan Government To Develop 500MW Wind Project

Masdar Signs PPA Agreement With Uzbekistan Government To Develop 500MW Wind Project

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Masdar Signs PPA Agreement With Uzbekistan Government To Develop 500MW Wind Project

Masdar has recently signed an agreement with the Ministry of Investments and Foreign Trade of Uzbekistan and JSC National Electric Grid of Uzbekistan to design, finance, build and operate a 500-megawatt utility-scale wind farm project.

During a virtual ceremony in presence of  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 The Power Purchase Agreement (PPA), and Investment Agreement was signed.Masdar will set up this project which is located in the Zarafshon district of the Navoi Region. The Commercial operation is anticipated. to be achieved by 2024.

“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.”, Umurzakov said while signing the agreement.

Masdar’s Al Ramahi stated that,  “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 500MW 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.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.”

The signing ceremony highlighted Uzbekistan’s aim of developing 5 GW of renewable energy by 2030.

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