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Abu Dhabi clean energy company Masdar said it finalised the financing for a 100-megawatt solar plant it is developing in Uzbekistan.
Loan and guarantee agreements to finance the Nur Navoi plant were signed between Masdar and Uzbekistan’s ministry of investments and foreign trade as well as the International Finance Corporation, Asian Development Bank, the World Bank and the European Bank for Reconstruction and Development, the company said on Wednesday.
Nur Navoi is the country’s first successfully financed independent power producer (IPP) solar project.
“This project will serve as a benchmark for the country as it looks to transform its energy sector and drive sustainable recovery, Mohamed Jameel Al Ramahi, chief executive of Masdar, said.