Tashkent, Uzbekistan (UzDaily.com) -- Today, on 31 August 2022, Masdar (UAE) signed agreements on financing a project for the construction of Uzbekistan’s first industrial wind power plant with a capacity of 500 megawatts (MW) in Tamdy district of Navoi region.

- The 500 MW Zarafshan Wind Farm is the largest project in Central Asia, which will provide electricity to about 500,000 households and prevent the emission of about 1.1 million tons of carbon dioxide into the atmosphere per year.

- The project is being implemented as part of achieving the goal of Uzbekistan to provide 25% of electricity demand from renewable energy sources by 2030.

“The United Arab Emirates and the Republic of Uzbekistan are advancing common goals to take pragmatic action to combat climate change and achieve carbon neutrality by 2050. Leveraging the vast experience of the UAE and Masdar in renewable energy development, Uzbekistan is taking bold steps to become a regional leader in the fight against climate change, help strengthen the global energy transition and reduce carbon emissions. This project will make a positive contribution to Uzbekistan’s energy security and diversification strategy, and will also serve to strengthen relations between our countries,” said Dr. Sultan Ahmed Al Jaber, UAE Minister of Industry and Advanced Technology, Special Envoy for Climate Change and Chairman of the company Masdar.

“Today we celebrate a milestone in this important project that brings Uzbekistan one step closer to achieving its ambitious renewable energy goals. Uzbekistan is a key strategic investment area for our company and we look forward to continuing to develop and deliver a strong portfolio of projects in the country,” said Muhammad Jameel Al Ramahi, CEO of Masdar.

In 2020, the company signed bilateral agreements with the Government of Uzbekistan for the design, construction and operation of the Zarafshan wind farm, the largest project in Central Asia. The project is expected to attract over US$600 million in foreign direct investment.

The Zarafshan wind farm (WPP), scheduled to be commissioned by the end of 2024, is Masdar’s second large-scale industrial project in Uzbekistan, the first of which was a 100 MW solar photovoltaic plant launched in 2021 in Karmana district of Navoi region.

Within the framework of the Zarafshan wind farm project, in June 2020 an agreement on investment and purchase of electricity was between Masdar, the Ministry of Investments and Foreign Trade of the Republic of Uzbekistan, National Electric Networks of Uzbekistan.

In 2021, the company also signed an agreement on the construction of solar photovoltaic stations (PVP) with a total capacity of 897 MW in a number of regions of Uzbekistan.

Masdar, an Abu Dhabi-based renewable energy company, is one of the fastest growing renewable energy companies in the world, with capacity expected to exceed 50 GW by 2030 and 100 GW in subsequent years.

The company promotes the commercialization and deployment of renewable energy, sustainable urban development and clean technologies to address global sustainability challenges. Today it operates in approximately 40 countries, including the UAE, Jordan, Saudi Arabia, Mauritania, Egypt, Morocco, the UK, the USA, Australia, Serbia, India, Indonesia, Uzbekistan and many other countries.