Uzbekistan readied to raise solar targets after low cost in current tenders

• Uzbekistan is taking into consideration raising its 2030 renewables implementation targets complying with the success of solar tenders accomplished in the last 2 years.

The country's power ministry said the present objective of getting to 5GW of set up solar PV by 2030 might be raised to 7GW, while its wind generation target could be elevated from 3GW to 5GW.

Despite COVID-related economic slowdowns last year, electrical energy demand in the nation has revealed durable development, according to the energy ministry, which hailed the low prices found in the solar tenders.

Masdar has been particularly active in Uzbekistan, recently securing legal rights to establish 2 PV plants with an incorporated ability of 440MW. The Abu Dhabi-based renewables designer posted the most affordable bid of US$ 0.0179/ kWh in that tender and is anticipated to get to economic close for the two projects later this year prior to starting building and construction operate in Q1 2022.

In June, it was introduced that Masdar was granted an additional solar plant with an ability of 457MW, taking the company's granted PV ability through Uzbekistan's tenders to practically 1GW, having succeeded in the nation's very first solar tender in 2019.

The energy ministry disclosed in a report released last year that Uzbekistan has 12.9 GW of creating ability, with 84.7% corresponding to thermal nuclear power plant, 14.3% to hydropower facilities and the staying 1% to consumers' generators and isolated plants. Annual power intake development prices in the country up to 2030 are anticipated to be around 6-7%.

As part of its PV tender process, the federal government has employed assistance from worldwide financial institutions such as the Asian Development Bank, the World Bank Group and the European Bank for Reconstruction and Development.

Regardless of the nation's goal to get to carbon neutrality for its power industry by 2050, last year's report said 13 thermal power plants will certainly be constructed or expanded in the next decade. An updated record is expected to be published very early following year.