The signing ceremony of the investment agreement between the Emirati company and MIFT took place on June 8, in accordance with which Masdar will be responsible for the design, financing, construction and operation of the wind farm.

This is the second major project implemented by this company in the Republic of Uzbekistan – in October last year, Masdar won a tender for the construction of a 100 MW solar power plant in the Navoi region on the basis of a public-private partnership. The relevant agreements for the implementation of this project were signed in January 2020.

Foreign direct investment in the project will amount to more than $600 million. The company will also create 1,300 new jobs, both during the construction phase and during its subsequent operation.

The wind farm will diversify and strengthen the energy balance of the Republic by generating affordable and cheap electricity in the amount of 1.9 GWh per year, which is equivalent to the consumption of more than 500,000 households, the press service added.

“The introduction of modern technologies of renewable energy sources will also contribute to reducing the volume of natural gas used for generating electricity (up to 175 million cubic meters per year) with their redirection to other needs, and significantly cut carbon dioxide emissions into the atmosphere (by 1.1 million tons per year),” the report says.

Construction work is scheduled to begin by the end of this year with the commissioning of the first stage of generating capacity (up to 250 MW) in mid – 2022 and all capacities by the end of 2023.