Masdar to develop 897MW solar PV portfolio in Uzbekistan

Masdar secured an 897MW multi-site solar PV portfolio in Uzbekistan, a development awarded by the Ministry of Energy on 2023-03-24. This substantial capacity addition directly supports Uzbekistan's national renewable energy targets and its broader energy diversification strategy. The multi-site nature of the solar PV portfolio suggests a distributed approach to integrating clean power across Uzbekistan's grid. While the financial value of this development remains undisclosed, Masdar's commitment to such a large-scale project in Central Asia aligns with its strategy of deploying utility-scale assets globally. This 897MW portfolio expands Masdar's gross renewable energy portfolio, which already exceeds 20 GW across over 40 countries, reinforcing its focus on utility-scale solar development. The Ministry of Energy awarded this multi-site solar PV portfolio in Uzbekistan, indicating its direct role in the nation's energy sector development. The Ministry of Investment and Foreign Trade, a government entity responsible for national investment promotion, likely facilitated inbound capital for this project in Uzbekistan. Furthermore, the Ministry of Finance's oversight of the national budget and sovereign debt would impact public infrastructure funding and guarantees for a large-scale development like this 897MW solar portfolio in Uzbekistan.