Masdar Inks Agreement with Samruk-Kazyna to Explore Renewable Energy Opportunities in Kazakhstan
Posted on 02/26/2021
Established in 2006, Masdar, Abu Dhabi Future Energy Company, is a company engaged in renewable energy and sustainable urban development. Masdar is under the umbrella of Mubadala Investment Company. Masdar and Samruk-Kazyna, the sovereign wealth fund of the Republic of Kazakhstan, have signed a strategic agreement to explore renewable energy opportunities in Kazakhstan and support the country’s clean-energy objectives. The two companies signed a Memorandum of Understanding (MoU) to explore the joint development of renewable energy projects, and the potential establishment of a joint venture.
“As a global leader in renewable energy projects, active in more than 30 countries, Masdar is well positioned to help the Republic of Kazakhstan achieve its clean energy objectives,” said Mohamed Jameel Al Ramahi, CEO of Masdar in a press release. “We look forward to co
Ashurst has advised Natixis on the facility.
The facility to National Electric Grid of Uzbekistan JSC was guaranteed by the International Bank for Reconstruction and Development, backstopping offtaker payment obligations for the landmark 100MW Nur Navoi solar photovoltaic IPP.
The Nur Navoi solar project is being financed by Abu Dhabi Future Energy Company PJSC (Masdar), the World Bank Group and the Asian Development Bank and is the first IPP/PPP to reach financial close in Uzbekistan.
It is expected to start contributing to Uzbekistan’s national electric network in the third quarter of 2021, and will produce 270 gigawatt hours per year of electricity from solar energy resources, enough to power more than 31,000 households, and prevent the release of 156,000 metric tons of greenhouse gases annually. The solar power plant strengthens Uzbekistan’s efforts to produce clean energy, strengthen the security of supply and combat climate change.
Construction of small photovoltaic power plant starts outside Tashkent
AKIPRESS.COM - Construction of a 40 kW small photovoltaic power plant has started in Yukori-Chirchik district of Tashkent region outside Tashkent, the Ministry of Energy reported.
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Asian Development Bank issued the following announcement on Dec. 23.
The Asian Development Bank (ADB) and âNur Navoi Solarâ Foreign Enterprise Limited Liability Company (NNS) signed loans of up to $17.5 million for a 100-megawatt (MW) solar power plant that will be the first publicâprivate partnership renewable energy project in Uzbekistan. The project will play a catalytic role in improving access to affordable and reliable renewable energy in rural parts of the country.
The financing package for the plant, to be built near Navoi City in central Uzbekistan, includes a loan from ADB and a loan from the Canadian Climate Fund for the Private Sector in Asia II (CFPS II), which will be administered by ADB.
Masdar achieves financial close on landmark 100 MW Nur Navoi Solar project in Uzbekistan mepmiddleeast.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from mepmiddleeast.com Daily Mail and Mail on Sunday newspapers.