Masdar Wins Another 400 MW Scaling Solar In Uzbekistan

After Winning Maiden 100 MW PV Project Under World Bank Backed Scaling Solar Initiative In Uzbekistan, Masdar Scores 2 More Wins In Country With 400 MW Capacity Offering Lowest Winning Bids, Says IFC

Masdar Wins Another 400 MW Scaling Solar In Uzbekistan

So far, Masdar has won all solar projects auctioned under World Bank backed Scaling Solar auctions in Uzbekistan by emerging as the lowest bidder, meaning it has already secured 500 MW capacity out of 900 MW solar capacity the program is supporting the country to develop. (Photo Credit: Masdar)

  • IFC has declared Masdar as the winner of 2 solar power project auctions conducted under Scaling Solar initiative in Uzbekistan
  • Masdar won the 200 MW Samarkand solar project for a winning tariff of $0.01791 per kWh
  • It also bagged 200 MW Jizzakh solar project offering the lowest bid of $0.01823 per kWh
  • Masdar is interestingly also the lowest bidder in another ADB backed 200 MW solar tender for Sherabad in the country with $0.018045 per kWh bid

Abu Dhabi Future Energy Company PJSC (Masdar) has emerged as the winner of 2 solar power projects in Uzbekistan after it offered lowest winning bid for both the auctions, announced the International Finance Corporation (IFC).

It said Masdar won the projects in Samarkand region for a winning bid of $0.01791 per kWh, and the facility Jizzakh region to supply solar power at $0.01823 per kWh. Both these projects will have 220 MW AC capacity each, according to the Uzbekistan’s Ministry of Energy, and are part of the World Bank’s Scaling Solar initiative under which the IFC is helping the country install 900 MW capacity (see 400 MW Solar PV Capacity Tendered In Uzbekistan). However, the IFC now says these public private partnerships (PPP) will add ‘more than 400 MW’ of clean and renewable energy to the country’s energy mix.

Both the projects were tendered in February 2020 for which 15 bidders prequalified. According to the IFC, the Samarkand site attracted 6 financial proposals, and the Jizzakh site 7 bids. Finally the IFC has declared Masdar as the winner.

The Abu Dhabi company was also the winner of the 1st Scaling Solar auction for 100 MW capacity being built in the Navoi region, offering to build it for a long term fixed tariff of $0.027 per kWh (see Masdar Wins Scaling Solar Uzbekistan Auction). The IFC has provided long-term debt financing for this facility.

In December 2020, Masdar achieved financial closure on the 100 MW project through its local project company Nur Navoi Solar FE LLC and it is expected to come online in Q3/2021.

“IFC’s growing partnership with Uzbekistan in renewables will help bring clean and sustainable energy to the Uzbek people at competitive prices,” said IFC Director for Europe and Central Asia, Wiebke Schloemer. “Attracting world-class investors through these PPP tenders bolsters the government’s efforts to diversify the country’s energy mix and confirms the effectiveness of competitive and transparent procurement processes.”

With all these auctions won, Masdar is sure settling down quite comfortably in Uzbekistan’s solar market. It is also likely to win another 200 MW Sherabad Solar PV Tender, part of the plans to develop 1 GW solar capacity with the support of Asian Development Bank (ADB), after it emerged as the lowest bidder with $0.018045 per kWh recently. The Uzbekistan’s Ministry of Energy is to announce the final winner after evaluating all 5 financial proposals received (see Masdar Quotes $0.018/kWh For Uzbek PV Project).

About The Author

Anu Bhambhani

Anu Bhambhani is the Senior News Editor of TaiyangNews

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