The Ministry of Investment and Foreign Trade and Masdar (UAE) signed an agreement for a 400 MW wind farm project in Navoi province.
Under the agreement terms, Masdar will design, finance, build and operate a wind farm, with the amount of investment estimated at US$ 600 million. Work is scheduled to begin in the third quarter of 2020 with the commissioning due in 2022.
In November 2019, the company entered into an agreement on the construction of a 100 MW PV plant in Navoi province. Masdar was announced the winner as a private sector bidder for Uzbekistan’s first ever competitively tendered solar power public-private partnership (PPPs).
Masdar is a subsidiary of Abu Dhabi’s Mubadala Investment Company and one of the world’s leading international renewable energy development and investment companies. The power generating capacity of the renewable energy projects in which Masdar is a partner exceeds 5GW, representing a combined investment of approximately US$13.5 billion.