Masdar and Uzbekistan ink PPA deal to develop 500MW wind project
Masdar will develop, build, and operate the wind farm project, with commercial operation expected to begin in 2024
UAE-based renewable energy company Abu Dhabi Future Energy Company (Masdar) has inked an agreement with the Ministry of Investments and Foreign Trade of the Republic of Uzbekistan and the JSC National Electric Grid of Uzbekistan to design, finance, build and operate a 500MW utility-scale wind farm project.
The Power Purchase Agreement (PPA) and Investment Agreement was signed during a virtual ceremony by the Uzbekistan Deputy Prime Minister and Minister of Investments and Foreign Trade, Sardor Umurzakov; the Chairman of JSC National Electric Grid, Dadajon Isakulov; and the Chief Executive Officer of Masdar, Mohamed Jameel Al Ramahi.
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 begin in 2024.
Commenting on the deal, Al Ramahi said: “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 announcement follows Masdar’s decision to ink 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.
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 the programme’s competitive auction to develop the 100MW utility-scale PV solar plant, which will be located in the Navoi region.