According to the IFC, the $0.027 per kWh winning bid of Masdar for the 100 MW Uzbek solar tender is one of the lowest solar tariffs in emerging markets. Pictured is the Uzbek Prime Minister Shavkat Mirziyoyev (wearing black suit) visiting Masdar in March 2019. (Photo Credit: Masdar)
- The IFC has announced Masdar as the winner of the first edition of the World Bank Group's Scaling Solar initiative in Uzbekistan securing 100 MW capacity
- Madar's bid came in at $0.027 per kWh, beating 10 other pre-qualified bidders to secure rights to the project development in Navoi region
- The Uzbek government is now planning to launch two more solar tender rounds under Scaling Solar with 400 MW and 500 MW capacity
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Abu Dhabi’s clean energy developer Masdar has won the inaugural Scaling Solar auction for 100 MW capacity in Uzbekistan, beating the competition by offering the winning tariff at $0.027 per kWh . The International Finance Corporation (IFC) called it one of the lowest tariffs seen in emerging markets.
Joining the Scaling Solar initiative of the World Bank Group, being executed through the IFC, in June 2019 Uzbekistan sought proposals for 100 MW capacity from 11 pre-qualified bidders. Originally, 23 companies had expressed their interest in developing the project (see Uzbekistan Joins Scaling Solar Initiative). The other companies were not identified though the IFC said Masdar’s lowest bid was the winner out of five competitive bids received.
Masdar will build the utility scale solar power plant in Navoi region in the central part of the country. It will develop the project with the support of Austria’s Ministry of Finance, Switzerland’s State Secretariat for Economic Affairs (SECO) and the Government of the Netherlands.
“The project is part of an effort by the Government of Uzbekistan to develop up to 5 GW of solar power by 2030 to diversify the country’s energy mix,” said Deputy Minister of Investment and Foreign Trade, Shukhrat Vafaev. “By structuring a transparent and competitive tender, we are assured of getting the most competitive power prices from private investors, helping to set a benchmark for solar power tariffs in the country.”
According to the IFC, buoyed by the outcome of the first tender the Uzbek government would be launching another tender for additional 400 MW of solar power on a public private partnership (PPP) basis followed by another tender with 500 MW capacity.
Another 100 MW solar power project is in the offing for Uzbekistan as the country signed up Total Eren to built the plant in Samarkand for €150 million (see Total Eren To Build 100 MW PV Plant In Uzbekistan).
In March 2019, Uzbek Prime Minister Shavkat Mirziyoyev visited Masdar and signed agreements for the latter to pursue renewable energy projects in the country.