UAE based Masdar announces financial close on Uzbekistan’s 500 MW wind project

UAE-based renewable energy developer Masdar has announced that it has achieved financial close on the 500 MW Zarafshan wind project in Uzbekistan.

This is a utility-scale wind farm. Masdar had entered into bilateral agreements with the government of Uzbekistan in 2020 to develop, build and operate the Zarafshan wind farm. The project is part of Uzbekistan’s effort to meet 25 per cent of its electricity needs from renewable sources by the end of the decade. The project will provide electricity to power 500,000 homes, while displacing 1.1 million tonnes of carbon dioxide per year. The project is expected to begin commercial operation by the end of 2024.