Masdar signs deal to develop solar projects in Uzbekistan

Masdar signs deal to develop solar projects in Uzbekistan

Masdar signs deal to develop solar projects in Uzbekistan

2 hours ago

Sardor Umurzakov and Mohamed Jameel Al Ramahi during the signing ceremony in Tashkent. WAM

Masdar announced recently that it is expanding its footprint in the Republic of Uzbekistan, with the signing of agreements to develop two photovoltaic (PV) power projects in the country for a combined capacity of 440 megawatts.

Sardor Umurzakov, Deputy Prime Minister and Minister of Investments and Foreign Trade of Uzbekistan, signed the Investment Agreements for both projects with Mohamed Jameel Al Ramahi, Chief Executive Officer of Masdar, in Tashkent.

The Power Purchase Agreements were signed by Sobirjon Artikov, First Deputy Chairman of the Board of JSC National Electric Grid of Uzbekistan, and Masdar's Al Ramahi.

"The Government of Uzbekistan opened up the power sector to private investments by implementing public-private partnership projects that can attract foreign capital efficiently and transparently," Umurzakov said.

Under the agreements, Masdar will develop, build and operate the plants, which will each have a capacity of 220 MW, on a public-private partnership basis. Commercial operation of the projects, which will be located in the Samarkand and Jizzakh regions of Uzbekistan, is expected to start in the first quarter of 2023.

The International Finance Corporation acted as