The United Arab Emirates Masdar company's project to build a 500 MW wind power plant in Zarafshan, Navoi region, was named the best deal of the year in Central Asia by the PFI Awards. This was reported by the Ministry of Investments, Industry and Trade.
It is noted that the PFI (Project Finance International) awards are conferred annually to the best project finance operations in Europe, the USA, Asia, the Middle East and Africa.
The power plant construction project is being implemented based on the terms of the investment agreement concluded between the Ministry of Investments, Industry and Trade and the Masdar company. The agreement stipulates the foreign company to finance, design, build and operate the power plant for 25 years.
It is planned to attract 600 million dollars of foreign direct investments for the implementation of the project. When the power plant is put into operation, it will save 545 million cubic meters of natural gas per year, reduce carbon dioxide emissions by 1.1 million tons per year, and provide 1.6 billion kWh of electricity, which is equivalent to the consumption of 500 thousand households.
The investment project is aimed at solving the tasks set by the government of the Republic of Uzbekistan to increase the share of renewable energy sources in the total volume of electricity production to 25% by 2026.
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