Masdar to develop 2 GW of RE, 500 MWh of battery storage in Uzbekistan
UAE-based energy firm Masdar has recently signed a joint development agreement with Uzbekistan's Ministry of Energy (MoE) and the Ministry of Investments, Industry and Trade (MIIT) to develop over 2 GW of solar and wind projects and 500 MWh of battery energy storage at multiple sites across the Central Asian country.
Uzbekistan aims to achieve 25 percent of its energy mix from renewables by 2030. The country is abundant in wind and sunshine, therefore a key strategic destination for Masdar, according to the company. Uzbekistan plans to achieve 7 GW of solar and 5 GW of wind capacity by the end of this decade.
Dr Sultan Al Jaber, UAE Minister of Industry and Advanced Technology, and Chairman of Masdar said, "The UAE is fully committed to supporting countries to decarbonize. Uzbekistan is a key strategic partner, and we continue to work together to deliver renewable energy projects that power homes and businesses, while crucially cutting emissions".
"The world needs to triple global renewable energy capacity by 2030 to reach the goals set out in the Paris Agreement. As we prepare to host COP28 in the UAE, we believe ambitious partnerships with countries like Uzbekistan are vital in helping to meet this target", he added, who is also the COP28 President-designate.
Masdar claims to be active in Uzbekistan since 2019, with the 100 MW Nur Navoi Solar Project, which is the nation's first successfully financed independent power producer solar project. Its growing portfolio in Uzbekistan includes the largest wind farm in Central Asia, the 500 MW capacity Zarafshan plant.
Last month, Masdar reached financial close on three solar projects in Jizzakh, Samarkand and Sherabad, which have a combined capacity of around 900 MW – making it the largest solar development program in Central Asia.
"We are making history together in Uzbekistan. Our agreement to develop 2 GW of solar and expand into 500 MWh of battery storage, marks an exciting new chapter in Masdar and Uzbekistan's shared journey. Uzbekistan is a key partner and Masdar is proud to support its ambitious renewable energy goals", said Mohamed Jameel Al Ramahi, CEO of Masdar.
It is to be noted that early this year, Saudi-based ACWA Power had already inked deals with the Uzbekistan's government for energy storage and renewables, including two solar plants adding up to 1,400 MW capacity and three battery energy storage projects of 400 MW capacity.