Uzbekistan, Masdar sign investment agreement on construction of photovoltaic plant in Navoi region

AKIPRESS.COM - The Ministry of Investments and Foreign Trade of Uzbekistan and UAE's Masdar signed the investment agreement on construction of a 100 MW photovoltaic plant in Navoi region, the Ministry's press service said.
Masdar will invest up to $100 million in construction of solar park.
On October 4, 2019, the company was announced a winner in the first ever open tender held to attract investments in public-private partnership project in solar power sector.
Masdar suggested to supply solar power for 2.679 cents for kWh, which is one of the lowest tariffs at developing markets. Masdar will design, finance, construct and operate the photovoltaic plant during the project term of 25 years.
Construction is expected to start in the first quarter of 2020. The plant is supposed to be commissioned in the first quarter of 2021.
The International Finance Corporation was involved as a consultant, which provided assistance to the Ministry of Investments and Foreign Trade in development of the required documentation and holding a tender with more than 40 companies from different parts of the world submitting their bids.