Wind

Masdar reaches financial close for half-gigawatt wind farm in Uzbekistan

Abu Dhabi-based developer has earlier announced plans to expand the array near Zarafshan to 1.5GW, which could make it Central Asia's largest

Uzbek city of Samarkand
Uzbek city of SamarkandFoto: Ibrahim Erikan/Anadolu Agency via Getty Images/Anadolu Agency via Getty Images

Abu Dhabi-based Masdar has reached financial close on a 500MW wind farm close to the city of Zarafshan in the country’s Navoiy region, Uzbekistan’s energy ministry said.

Commercial operations are expected to in little more than two years.

“With financial close achieved, the ambitious Zarafshan project is on track to begin commercial operations by the end of 2024, displacing 1.1 million tonnes of CO2,” Azim Akhmedkhadjayev, first deputy energy minister of Uzbekistan, said.

“Our country has vowed to satisfy 25% of its energy needs with renewables by 2030, and reach carbon neutrality in 2050.

“The Zarafshan project, Central Asia’s largest wind farm, will be a major contributor to these goals.”

Masdar in mid-2020 had announced it will develop, build and operate a 500MW wind farm in the Navoiy region, and last year added after its commissioning in 2024 the array could add another 1GW of capacity.
The Zarafshan project is in a race against another project to become Central Asia’s largest wind array, which is being developed by Saudi Arabia’s ACWA Power in Uzbekistan’s Karakalpakstan region and also is envisaged for 1.5GW. ACWA’s said last month it expects the project to be commissioned in 2026.

Masdar next to wind power is also developing an 890MW PV array in the Samarkand, Jizzakh and Sherabad regions.

“Uzbekistan is a key strategic investment destination for Masdar, and we look forward to continuing to develop and grow our strong portfolio of projects in the nation,” Masdar chief executive Mohamed Jameel Al Ramahi said.

Uzbekistan’s long-term strategy to diversify its energy mix targets 8GW of solar and wind power by 2026 and 12GW of renewables by 2030.

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Published 31 August 2022, 15:08Updated 31 August 2022, 15:08
Asia-PacificUzbekistanMasdarMarkets