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    Masdar signs agreement to develop renewable energy projects in Uzbekistan

    May 19, 2023 - The Eastern Herald



      This agreement strengthens cooperation in the field of clean energy between Masdar and the government of Uzbekistan, which aspires to supply 25% of its energy mix from renewable sources by 2030.

      Uzbekistan, located in Central Asia, is a key strategic destination for Masdar due to its abundance of solar and wind energy resources. Uzbekistan seeks to produce 7 gigawatts of solar power and 5 gigawatts of wind power by the end of this decade.

      On this occasion, Dr. Sultan Ahmed Al-Jaber, Minister of Industry and Advanced Technologies, President-elect of the COP28 conference and Chairman of the Board of Directors of Masdar, declared: “The signing by Masdar of this agreement confirms its commitment to consolidate its position as a world leader whose projects contribute directly to the deployment of energy solutions. This agreement also contributes to closer cooperation with Uzbekistan, and we look forward to broadening the horizons of this partnership to develop more pioneering and economically viable projects. ”

      He added: “This milestone coincides with the preparation of the UAE to host the Conference of Parties at COP28, where such ambitious strategic partnerships constitute an important support to achieve the desired objectives in the field of climate action, and are a model for a logical, practical approach and a realistic transition in the energy sector, especially given the progress made in implementing the Paris Climate Agreement.” This requires that all countries around the world are stepping up efforts to triple renewable energy generation capacity by 2030.”

      At a ceremony in Uzbekistan, the agreement was signed by Azim Akhmad Khojayev, First Deputy Energy Minister of Uzbekistan; Sarvar Khamidov, Deputy Minister of Investment, Industry and Trade of Uzbekistan; and Mohammed Jamil Al Ramahi, CEO of Masdar.

      For his part, Mohammed Al-Ramahi, CEO of Masdar, said: “This agreement represents an important new chapter on the path of fruitful cooperation between Masdar and the Uzbek government, which is one of our main strategic partners. as the development of solar power projects with a generation capacity of more than 2 gigawatts and the expansion of energy storage battery systems with a capacity of 500 MWh, which will help support the ambitious objectives of the Uzbekistan in renewable energy.”

      Masdar has been active in Uzbekistan since 2019, when it signed a power purchase agreement with the Uzbek government to develop the 100 MW “Nur Navoi” solar power plant, which is the first independent solar power project in be successfully funded in the country, and was launched and entered into full operation in 2021.

      Masdar’s growing project portfolio in Uzbekistan includes the 500 MW Zaravshan wind farm, which is the largest of its kind in Central Asia.

      Last month, Masdar completed the financial close process to finance the development of three solar PV projects located in Shirabad, Samarkand and Gizakh, with the construction of power plants with a total generation capacity of approximately 900 MW to start soon. making it the largest program to develop solar energy projects in the region.

      When fully operational, these projects will provide electricity to more than one million homes and avoid the release of approximately one million tonnes of carbon dioxide per year.

      It should be noted that “Masdar” was established in 2006 and is active in more than 40 countries, and invests in a portfolio of renewable energy projects with a total generation capacity of more than 20 gigawatts, and hopes to produce at least 100 gigawatts of renewable energy by 2030.

      Read the Latest World News Today on The Eastern Herald.

      Copyright © 2023 The Eastern Herald.

      The views expressed in content distributed by Newstex and its re-distributors (collectively, "Newstex Authoritative Content") are solely those of the respective author(s) and not necessarily the views of Newstex et al. It is provided as general information only on an "AS IS" basis, without warranties and conferring no rights, which should not be relied upon as professional advice. Newstex et al. make no claims, promises or guarantees regarding its accuracy or completeness, nor as to the quality of the opinions and commentary contained therein.


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