One of the leading international companies engaged in the development of renewable energy sources Masdar (UAE) will construct one of the largest 500 MW wind power stations in the world in Navoi region.

The ceremony of signing of the Investment Agreement between the Emirate company and the Ministry of Investment and Foreign Trade took place today, on June 8, 2020. According to this Agreement Masdar will design, finance, construct and operate a wind power station.

This is the second large project implemented by this company in the Republic of Uzbekistan. In October last year, Masdar won a tender for the construction of 100 MW solar power plant in Navoi region based on public-private partnership. Relevant agreements for the implementation of this project were signed in January 2020.

Construction and further operation of a wind power station will have a positive impact on the country's economy.

Primarily, this is an attraction of foreign investments to the project amounted to more than USD 600 million, as well as the creation of 1,300 new jobs both at the construction stage and during its subsequent operation.

The wind power plant will diversify and strengthen the Republican's energy balance by generating affordable and cheap electricity amounted to 1.9 GWh/year, which is equivalent to the consumption of more than 500,000 households.

The introduction of modern renewable technologies also will reduce the volume of natural gas used for electricity generation (up to 175 million cubic meters per year) and redirect them to other needs, and what is more important, to significant reduction in carbon dioxide emissions (by 1.1 million tons per year).

The start of construction is expected before the end of this year, and the commissioning of the first generating capacities stage (up to 250 MW) - in mid-2022, as well as all capacities - by the end of 2023.