Voltalia, an international leader in renewable energies, has announced the commencement of construction for the Sarimay solar power plant. Alongside this milestone, the company is also accelerating its battery storage strategy with the signing of key partnership agreements.
The Sarimay solar power plant, boasting a capacity of 126 megawatts, marks a step in Uzbekistan's transition towards sustainable energy sources. Scheduled for commissioning in the last half of 2025, this solar facility is projected to curtail approximately 116,000 tonnes of CO2 emissions annually.
The initiative stems from a power sales contract secured in 2022 through a tender managed by IFC, a subsidiary of the World Bank. Financing for the project has been facilitated through partnerships with the European Bank for Reconstruction and Development (EBRD) and the Japan International Cooperation Agency (JICA).
The Sarimay complex extends beyond solar power generation, encompassing additional ventures in wind and storage. A framework agreement has been established for the expansion of the complex, incorporating 50 megawatt / 100 megawatt-hour batteries. Moreover, plans are underway for the creation of a new storage complex with a capacity of 500 megawatts / 1000 megawatt-hours.
The recent memorandum of understanding signed at the Tashkent International Investment Forum outlines Voltalia's commitment to spearheading the development, financing, construction, and maintenance of the expansive battery storage complex. Backed by long-term sales contracts, this endeavor, in collaboration with the Ministry of Energy and the Ministry of Investment and Foreign Trade (MIFT), aims to fortify Uzbekistan's renewable energy sector while ensuring grid stability and sustainability.
Sébastien Clerc, Chief Executive Officer of Voltalia, expressed enthusiasm regarding the company's endeavors in Uzbekistan, emphasizing the pivotal role these initiatives play in the nation's energy transformation. Clerc stressed Voltalia's commitment to providing innovative solutions that facilitate decarbonization and enhance the resilience of Uzbekistan's electricity infrastructure. Furthermore, he highlighted the strategic significance of Uzbekistan's market stability, which enables Voltalia to accelerate its battery storage strategy without exposure to market price fluctuations.
Voltalia's presence in Uzbekistan extends beyond the Sarimay project, with previous agreements such as the Artimisya hybrid complex in the Bukhara region. With a comprehensive portfolio encompassing wind, solar, hydro, biomass, and storage facilities, Voltalia is poised to continue driving sustainable energy initiatives globally.
Uzbekistan's renewable energy and storage sector is experiencing a shift with Voltalia's entry. For instance, the UAE's state-owned Masdar added 511MW of photovoltaic projects to Uzbekistan's grid in March and, in January, expanded its partnership with the Uzbek government to develop 500MWh of battery storage and 2GW of wind energy.
Uzbekistan aims for 12GW of renewable capacity by 2030, with 7GW from solar PV. A key factor in this transition is the public-private partnership program, attracting firms like Voltalia and Masdar to invest in public infrastructure. Voltalia, in its 2023 full-year results, reported a turnover of €495.2mn ($531.9mn), up 6% from 2022, primarily driven by its investments in solar PV, underscoring its commitment to global renewable energy promotion.
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