World Bank, IFC fund Masdar’s Uzbekistan solar-plus-storage project with 63MW BESS
- Admin
- May 23, 2024
- 1 min read
Masdar, a UAE state-owned renewable energy developer, is involved in renewable energy projects globally. In Uzbekistan, they are working on a 250MW solar PV and 63MW battery energy storage system project in partnership with financial institutions like the World Bank. The project, located in the Bukhara region, is the first renewable project in Central Asia with a co-located BESS. The project company, Nur Bukhara Solar, has signed a 25-year PPA to sell electricity to Uzbekistan's state-owned grid and will manage the BESS component for ten years. Financing for the project includes loans from the World Bank's IFC, ADB, Dutch Entrepreneurial Development Bank, and Japan International Cooperation Agency.
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