TASHKENT, May 21, 2024 — The World Bank Group, Abu Dhabi Future Energy Company PJSC (Masdar), and the Government of Uzbekistan have signed a financial package to fund a 250-megawatt (MW) solar photovoltaic plant with a 63-MW battery energy storage system (BESS).
Will Uzbekistan fund a 250-megawatt solar photovoltaic plant?
TASHKENT, May 21, 2024 — The World Bank Group, Abu Dhabi Future Energy Company PJSC (Masdar), and the Government of Uzbekistan have signed a financial package to fund a 250-megawatt (MW) solar photovoltaic plant with a 63-MW battery energy storage system (BESS).
The project company is committed to selling electricity to the state-owned National Electric Grid of Uzbekistan JSC under a 25-year Power Purchase Agreement for the project, including a 10-year operating term for the BESS component, signed by these two entities.
What is Uzbekistan's new energy policy?
Uzbekistan's new energy policy emphasizes the deployment of renewable energy, encouraged by early achievements to invite private sector investments in multiple large solar and wind power projects, the government is currently working on increasing the solar capacity to 7 GW and wind capacity to 5 GW.
What is Bess project in Uzbekistan?
The project involves a 500 megawatt alternating current (MWac) solar photovoltaic (PV) plant, 668 megawatt hour (MWh) battery energy storage system (BESS), transmission line and other auxiliary infrastructure and will be one of the first utility-scale renewable energy projects with BESS component in Uzbekistan.
“This project will enhance Uzbekistan's energy security through the use of innovative solutions and technologies,” noted Marco Mantovanelli, World Bank Country Manager for Uzbekistan.
What is the Uzbekistan wind project?
The Project will help unlock Uzbekistan's significant untapped wind resource potential and provide sustainable electricity for the country's economic development.