The wind farm project in the city of Zarafshan in Navoi Region was recognised as the deal of the year in Central Asia according to the PFI (Project Finance International) Awards, the press office of the Ministry of Investments, Industry and Trade of Uzbekistan reports.
The project will be implemented jointly with the UAE company Masdar in accordance with the Investment Agreement between the Ministry of Investments, Industry and Trade of Uzbekistan and Masdar. The power plant will have a capacity of 500 MW, and the project has received $600 million in foreign direct investment.
After the power plant is put into operation, it will generate up to 1.6 billion kilowatt-hours per year and replace about 545 million cubic metres of gas used to generate electricity.
The wind farm in Zarafshan is part of the project aimed at increasing the share of renewable energy in Uzbekistan to 25 percent by 2026.
The PFI (Project Finance International) Awards is one of the most prestigious project finance awards. It is awarded annually to the best project finance deals in the countries of Europe, Asia, Africa and the Middle East and the USA.
