- Masdar finances a 500 MW wind project in Uzbekistan.
- Over $600 million in foreign direct investment is anticipated for the project.
- The project will power about 500,000 homes.
Masdar, the UAE’s largest renewable energy company, closed the financial deal for a 500 MW wind farm constructed in the Navoiy region of the Central Asian nation of Uzbekistan. The ministry announced that the facility will be the biggest wind farm in Central Asia when it operates commercially by the end of 2024. It will be able to power 500,000 homes and reduce annual carbon dioxide emissions by 1.1 million tonnes.
Over $600 million in foreign direct investment is anticipated for the project.
The wind project is Masdar’s second utility-scale project in Uzbekistan. Masdar is situated in Abu Dhabi. It activated the 100 MW Nur Navoiy solar power project last year. Additionally, 890 MW of solar projects will be developed by Masdar in the provinces of Samarkand, Jizzakh, and Sherabad.
To diversify its energy mix and fulfil rising demand, Uzbekistan intends to have 8 GW of solar and wind power capacity by 2026 and 12 GW of green energy capacity by 2030.