Masdar, Uzbek govt sign offers for 440 MW of solar projects

Jul 13, 2021 12:33 PM ET
  • Renewables designer Masdar, a subsidiary of Emirati sovereign financier Mubadala Investment Co, revealed today the signing of investment and power acquisition arrangements in relation to a number of solar projects in Uzbekistan amounting to 440 MW.

As previously announced, Masdar won both 220-MW projects in the Jizzakh and Samarkand regions in a recent public-private partnership (PPP) tender in Uzbekistan that was supervised by the International Finance Corporation (IFC). It made a bid of USD 18.23 (EUR 15.38) per MWh for the solar park in Jizzakh and also recommended to provide power at USD 17.91/ MWh from the future plant in Samarkand. The business noted that these are record low tariffs.

The power purchase arrangements (PPAs) have now been signed for a period of 25 years. Masdar expects to spend an overall of USD 300 million in both projects and also reach industrial procedure for both in the initial quarter of 2023. Construction is attended start in the first quarter of 2022, based on getting to monetary close this December.

Masdar recently won one more tender for a regional solar project of 457 MW, to be located in the Sherabad area of the Surkhandarya province. Additionally, it accomplished economic close on the 100-MW Nur Navoi solar project last year as well as has actually accepted build an approximately 1.5-GW wind power complicated in Zarafshan.

Under its renewable energy programme, Uzbekistan plans to release 5 GW of solar as well as 3 GW of wind power capability by 2030 so as to create 25% of its total power from renewables by that year. The government prepares to launch a Request for Prequalification for as much as 500 MW of solar plants in three different areas in the coming month.

Meanwhile, Masdar additionally introduced last week that it won a tender for a 200-MW solar project in Armenia, to be located in the Talin and also Dashtadem communities. The designer submitted a last price of USD 29.00/ MWh and also will have an 85% risk in the USD-174-million project. The rest will be held by the Armenian National Interest Fund CJSC (ANIF).

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