Masdar, a subsidiary of Mubadala Investment Co., has won the bid to develop Uzbekistan’s first public-private partnership (P3) solar project under the International Finance Corp.’s Scaling Solar program.
Announced by the Ministry of Investments and Foreign Trade of Uzbekistan, Masdar tendered the lowest tariff in the program’s competitive auction to develop the 100-megawatt utility-scale solar plant, which will be located in the Navoi region.
The project supports Uzbekistan’s plan to develop 5 gigawatts of renewable energy by 2030 to diversify the country’s energy mix. Under the Scaling Solar approach, Uzbekistan is aiming to develop up to 1 gigawatt of solar power, and the 100-megawatt solar plant in Navoi is the first step in this strategy.
“Uzbekistan has made a solid step toward the development of an independent power producer’s market, with the country’s first open tender public-private partnership,” said Shukhrat Vafaev, deputy minister o
