Agreements were signed between the Uzbek government and Abu Dhabi Future Energy Company PJSC (Masdar) to build two solar photovoltaic plants in the central Jizzakh and Samarkand regions, Uzbek Energy Ministry said Monday.
Under the agreements, Masdar, a renewable energy developer based in the United Arab Emirates, will produce power for the national electric grid of Uzbekistan at record low tariffs of 1.791 U.S. cents per kWh for the Samarkand plant and at 1.823 U.S. cents per kWh for the Jizzakh plant, for a 25-year period, it said.
Masdar was awarded with the two projects following an open tender overseen by the International Finance Corporation in May this year.
The company is expected to invest up to 300 million dollars in these projects and construction is expected to start in the first quarter of 2022, Uzbek officials said during the document signing ceremony.
Uzbekistan has been opening up the country’s power sector to private investment, in order to reach its goal of 25 percent of energy consumption deriving from renewable sources by 2030.
