Construction of a solar power station will raise cooperation between Uzbekistan and the UAE to a new level
17/01/2020 16:55
Construction of a solar power station will raise cooperation between Uzbekistan and the UAE to a new level
17/01/2020 16:55
Tashkent, Uzbekistan (UzDaily.com) - Today, cooperation between Uzbekistan and the United Arab Emirates is reaching a qualitatively new level, Dunyo reports.
The UAE is one of the most important players in the region for our country, with wide investment opportunities and experience in the effective implementation of modern technologies and the implementation of large-scale investment projects.
In particular, agreements were reached with the UAE on the implementation of joint projects worth more than US$10 billion, which involve the implementation of large-scale projects in the energy sector, infrastructure development, oil and gas, chemical and petrochemical spheres, engineering, agriculture, food industry, tourism and other areas.
So, one of the largest companies in this country, Masdar is investing US$100 million in the construction of a solar power station in Uzbekistan. In October 2019, she was declared the winner of the first ever open tender in the history of our country to attract investment in public-private partnerships in solar energy. The start of construction work is scheduled for the first quarter of 2020, and commissioning is scheduled for the first quarter of 2021.
An investment agreement between the Ministry of Investment and Foreign Trade of Uzbekistan and Masdar on the construction of a photovoltaic station with a total capacity of 100 MW in Navoi region was signed in Tashkent last November. Masdar came up with a proposal to supply solar energy for just 2,679 US cents per kilowatt hour, which is one of the lowest tariffs in emerging markets.
The company will carry out the design, financing, construction and operation of the power plant throughout the project implementation period.
The International Finance Corporation (IFC) was involved as a consultant on the transaction, assisting the Ministry of Investment and Foreign Trade in developing relevant documentation and conducting tenders, with participants in more than 40 companies from different countries.
In the coming months, it is expected to launch tenders on the basis of a public-private partnership for two more projects in the field of solar energy in Samarkand and Jizzakh regions with a capacity of up to 200 MW each. This will be followed by an additional round for a capacity of 500 MW. In total, the energy sector will attract about US$1 billion of foreign direct investment.
Masdar is a subsidiary of the Abu Dhabi government investment holding company Mubadala Investment Company and one of the leading international renewable energy companies. The portfolio of implemented investment projects of the company includes more than 4000 MW of installed capacity for generating electricity from renewable sources.
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