Abu Dhabi’s Masdar announced that it secured Uzbekistan’s first public-private partnership (PPP) solar contract after offering the lowest bid.
Masdar’s bid was the lowest in the programme’s auction to develop the 100-megawatt utility-scale solar plant.
This solar initiative is part of Uzbekistan’s plans to develop five gigawatts (GW) of renewable energy by 2030. The solar plant will be located in the Navoi region.
The construction of plant is expected to take 12 months while its financing is expected to close by end of Q1 2020, a statement said.
Mohamed Al Ramahi, CEO of Masdar, said: “Masdar is honoured to have been named as the winning bidder for the 100MW Navoi solar plant. For more than a decade, Masdar has been a catalyst for renewable energy and clean-tech innovation in more than 25 countries and this PPP agreement underscores our shared commitment with the Uzbekistan Government to help the country achieve its renewable energy ambitions.”
The agreement comes after Masdar and the government of Uzbekistan agreed to pursue renewable energy projects earlier this year.