Abu Dhabi Future Energy Company – Masdar from the UAE and Voltalia from France will build two photovoltaic stations in Uzbekistan.
President of Uzbekistan Shavkat Mirziyoyev signed resolutions on the construction of two photovoltaic stations.
In particular, Abu Dhabi Future Energy Company – Masdar will build a 250 MW photovoltaic station and a 63 MW electricity storage system in Bukhara region. The project cost is US$273 million.
Masdar designs, finances, builds and operates a solar photovoltaic and energy storage system.
Masdar will provide a US$50 million foreign bank guarantee as collateral for the duration of construction. To implement the project, Nur Bukhara Solar PV LLC was established as a private partner in Uzbekistan.
Voltalia, in turn, is implementing a project to build a photovoltaic station with a capacity of 100 MW in the Khorezm island.
The volume of direct investment in this project will amount to US$68 million. To implement the project, Sarimay Solar LLC was established as a private partner in Uzbekistan.
Also, the French company must provide a bank guarantee for US$20 million during the construction work.
The National Electric Grids company will purchase electricity in national currency for 25 years in accordance with signed agreements with these companies.
Masdar and Voltalia won tenders for the construction of solar power plants. Masdar won the tender in Bukhara region with an offer of 3.044 cents per 1 kWh, and Voltalia in Khorezm region – with an offer of 2.888 cents per 1 kWh.