Phanes Group to develop 200MWac solar project in Uzbekistan

Latest

Facebook
Twitter
LinkedIn
Reddit
Email
From left: Martin Haupts, CEO of Phanes Group, and Laziz Sh. Kudratov, Uzbekistan’s First Deputy Minister of Investments and Foreign Trade. Image: Phanes Group.

Dubai-based Phanes Group has signed a deal with the government of Uzbekistan to develop a 200MWac PV project in the country.

The agreement includes the technical and commercial terms for building, owning and operating the project, including facilities that will connect it to a substation.

Phanes has also secured a power purchase agreement (PPA) with National Electric Grid of Uzbekistan for the facility, which will be constructed in the Navoiy region.

The solar developer and asset manager said the project will “significantly” increase Uzbekistan’s current PV capacity and contribute to the government’s plans to reach 5GW of installed solar by 2030.

“Our country is strongly committed to a low-carbon strategy and increasing the share of renewable energy in our energy mix. Solar energy is an important part of this strategy and Phanes Group’s assistance will contribute to the success of this latest project,” said Sherzod Khodjaev, Uzbekistan’s Deputy Minister of Energy.

While Uzbekistan is heavily reliant on fossil fuels, with most of its electricity supplied by natural gas, the country’s solar sector was recently boosted by Masdar achieving financial close for a 100MW project, which is expected to be operational in the third quarter of 2021.

Read Next

Subscribe to Newsletter

Most Read

Upcoming Events