UAE's Masdar to invest $2.6bn in Uzbekistan wind farm and energy storage facility

By Muzaffar Ismailov in Tashkent January 3, 2024

UAE company Masdar plans to build a 2-GW wind farm and energy storage facility for $2.6bn in Uzbekistan, the country's ministry for investment, industry and trade (MIIT) has announced.

On December 27, Uzbek officials and Masdar signed investment agreements for the construction of the 1,150-MW project.

"This project will increase electricity generation by 7bn kWh and provide more than one million households with electricity," MIIT said.

It noted that the construction of energy storage facilities stabilises the operation of the power grid. This helps to offset the difference between supply and demand during peak hours.

MIIT and Uzbekistan’s National Electric Networks have also signed agreements with the Chinese Gezhouba Group on the use of energy storage systems.

According to Feruz Kurbonov, deputy chairman of National Electric Networks, batteries will be installed in eight regions to provide electricity at night.

Uzbek President Shavkat Mirziyoyev, meanwhile, has announced preparations are now under way for the construction of 22 solar and wind power plants with a capacity of 9 GW. By 2030, green generation sources will provide 27 GW, the president added.  

Related Articles

EBRD backs National Bank of Egypt with $119.5mn to support MSMEs

The European Bank for Reconstruction and Development (EBRD) has extended a loan of $119.5mn (€109mn) to the National Bank of Egypt (NBE) to support micro, small, and medium-sized enterprises ... more

Paris-based Voltalia secures contract for 130MW solar plant in Tunisia

Paris-based renewable power plants operator Voltalia has secured a contract to build a 130MW photovoltaic (PV) farm near the Tunisian city of Gafsa and to operate it jointly with state power utility ... more

Xlinks warns cost of Morocco-UK Power Project could rise some 25% to reach $30bn

UK renewable energy producer Xlinks, noting significant upward pressure on the cost of all energy projects, has warned that construction of the Morocco-UK Power Project could reach $27bn to $30bn, up ... more