UAE’s Masdar to Build $100 Million Solar Farm in Uzbekistan

(Bloomberg) -- Masdar, a clean energy development company based in Abu Dhabi, agreed to build a 100-megawatt photovoltaic power station in Uzbekistan’s Navoi region.

Under the agreement signed on Friday in Tashkent, Masdar will invest up to $100 million in the project, the Uzbek Ministry of Investments and Foreign trade said in a statement.
Masdar will design, finance and build the plant and operate it for 25 years. Construction will start in the first quarter of 2020 and take a year.

Sardor Umurzakov, the Uzbek minister of investments and foreign trade, described the signing of the investment agreement with Masdar as a “historic” event.

To contact the reporter on this story: Zulfugar Agayev in Baku at zagayev@bloomberg.net

To contact the editor responsible for this story: Reed Landberg at landberg@bloomberg.net

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