Masdar reaches financial close on 300 MW Uzbek solar project

Masdar has secured $225 million for the development of a 300 MW solar plant linked to 75 MWh of energy storage in Uzbekistan, as part of its commitment to deploy 2 GW of renewables in the country. The project is expected to increase the country’s electricity production capacity by 634 GWh annually. The developer has secured more than $225 million for the project, through $195.5 million from the European Bank for Reconstruction and Development (EBRD) and a $30 million financing package from the Asian Development Bank (ADB).