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(23 December 2020)   Masdar, a subsidiary of Mubadala Investment Company and one of the world’s leading renewable energycompanies,announced today the financial close of the Nur Navoi Solar Project – Uzbekistan’s first successfully-financed independent power producer (IPP) solar project. Loan and guarantee agreements to finance the 100-megawatt photovoltaic plant were signed in a virtual ceremony with representatives from Masdar, Uzbekistan’s Ministry of Investments and Foreign Trade(MIFT), the International Finance Corporation (IFC), Asian Development Bank (ADB), the World Bank Group (WBG) and the European Bank for Reconstruction and Development (EBRD). “This landmark project will drive the development of Uzbekistan’s independent power producer market, and enable us to increase the share of renewable energy in the energy mix,” said ShukhratVafaev, Deputy Minister of Investments and Foreign Trade of the Republic of Uzbekistan. “By opening new markets for privat

United arab emiratesAbu dhabiAbuz abyRepublic of uzbekistanMohamed jameel al ramahiWorld bank groupMubadala investment companyAsian development bankInternational finance corporationNur navoi solarUzbekistan ministry of investmentsNational electric grid of uzbekistanMinistry of investmentsEuropean bankMasdar achieves financial close on landmarkNur navoi solar project