International solar energy developer Phanes Group has announced securing a power purchase agreement (PPA) and investment agreement (IA) for a 200 MW AC solar power project in Uzbekistan. The grid connected project will be located in Nurata of Navoi region in the country.
It entered the PPA, of undefined duration, for the ground mounted project with the National Electric Grid of Uzbekistan, and IA with the Ministry of Investment and Foreign Trade on April 1, 2021. These agreements lay down the technical and commercial terms for the building, owning and operating the project.
Phanes Group said it will significantly increase the country's current installed solar PV capacity. The country targets 5 GW to be achieved by 2030 (see Uzbekistan Confirms 5 GW Solar Target By 2030).
"Our country is strongly committed to a low-carbon strategy and increasing the share of renewable energy in our energy mix. Solar energy is an important part of this strategy and Phanes Group's assistance will contribute to the success of this latest project," Phanes Group's statement quoted country's Deputy Minister of Energy, Sherzod Khodjaev as saying.
Uzbekistan has been encouraging solar power capacity development through competitive auctions. For 2 separate tenders with 600 MW combined capacity a number of names have made the cut as shortlisted candidates, according to the Uzbek Energy Ministry (see Uzbekistan: List Of Shortlisted Bidders For 600 MW PV Out).
It comprises a 400 MW project tendered under the World Bank's Scaling Solar initiative. Abu Dhabi's Masdar won the maiden Scaling Solar auction concluded in October 2019 with $0.027 per kWh winning bid (see Masdar Wins Scaling Solar Uzbekistan Auction).
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