UAE's Masdar to invest $2.6bn in Uzbekistan wind farm and energy storage facility

By Muzaffar Ismailov in Tashkent January 3, 2024

UAE company Masdar plans to build a 2-GW wind farm and energy storage facility for $2.6bn in Uzbekistan, the country's ministry for investment, industry and trade (MIIT) has announced.

On December 27, Uzbek officials and Masdar signed investment agreements for the construction of the 1,150-MW project.

"This project will increase electricity generation by 7bn kWh and provide more than one million households with electricity," MIIT said.

It noted that the construction of energy storage facilities stabilises the operation of the power grid. This helps to offset the difference between supply and demand during peak hours.

MIIT and Uzbekistan’s National Electric Networks have also signed agreements with the Chinese Gezhouba Group on the use of energy storage systems.

According to Feruz Kurbonov, deputy chairman of National Electric Networks, batteries will be installed in eight regions to provide electricity at night.

Uzbek President Shavkat Mirziyoyev, meanwhile, has announced preparations are now under way for the construction of 22 solar and wind power plants with a capacity of 9 GW. By 2030, green generation sources will provide 27 GW, the president added.  

Read in IntelliNews Pro
Get IntelliNews Pro

Related Articles

Saudi ACWA Power signs $2.3bn agreement to build 2GW wind power plant in Egypt

Saudi Arabia renewable energy firm ACWA Power has signed a 25-year power purchase agreement (PPA) with Egyptian Electricity Transmission Company (EETC) to develop, build, own, and operate a 2GW wind ... more

Sudan agrees to host Russian naval base in Port Sudan, says foreign minister

Sudan and Russia have reached a final agreement on establishing a Russian naval base in the Sudanese Red Sea coast, Sudan’s Foreign Minister Ali Yusuf Sharif said on February 12 as cited by Al ... more

Stellantis plans to produce 1,000 automated vehicles at Kenitra plant in Morocco

Global vehicles manufacturer Stellantis plans to produce 1,000 units annually of its Automated Guided Vehicles (AGVs) at the group’s Kenitra plant in Morocco, Al Maghrebia reported on February ... more

Follow Us On

Most Read

  1. Kaliningrad becomes an energy island after Baltic States cut Russian grid connection
    1 month ago
  2. Briefings reveal Nato chief called on EU and Turkey to improve relations amid pressing security concerns
    1 day ago
  3. Fresh evidence suggests that the April 2022 Istanbul peace deal to end the war in Ukraine was stillborn
    10 months ago
  4. Poland's adjusted income to overtake Japan's by 2026
    7 months ago
  5. Iran strikes oil deposits estimated at 5bn barrels worth $346bn
    2 days ago
  1. Ukraine doesn't have any rare earth metals, and the strategic minerals it does have are not worth trillions of dollars
    17 days ago
  2. US administration 'misinformed about Romanian elections', says presidential candidate Nicusor Dan
    17 days ago
  3. Putin says sanctions have strengthened, not weakened, Russian economy
    19 days ago
  4. Fresh evidence suggests that the April 2022 Istanbul peace deal to end the war in Ukraine was stillborn
    10 months ago
  5. Kaliningrad becomes an energy island after Baltic States cut Russian grid connection
    1 month ago

Reports

Dismiss