Will Uzbekistan fund a 250-megawatt solar photovoltaic plant?

TASHKENT, May 21, 2024 — The World Bank Group, Abu Dhabi Future Energy Company PJSC (Masdar), and the Government of Uzbekistan have signed a financial package to fund a 250-megawatt (MW) solar photovoltaic plant with a 63-MW battery energy storage system (BESS).

Is Uzbekistan ready for a grid-scale battery energy storage project?

Uzbekistan is in line for its first grid-scale battery energy storage project as it seeks to stabilize and strengthen its existing electricity grids and ramp up the uptake of renewable energy.

Why is Uzbekistan so energy-intensive?

Uzbekistan remains one of the most energy-intensive economies in the world. Energy use is largely based on fossil fuels, although the country has significant RE potential in solar and wind. Natural gas makes up to 83 percent of total primary energy consumption and more than 80 percent of the electricity mix.

What is the Uzbekistan energy project?

7. The Project builds on the World Bank energy program in Uzbekistan by scaling up the private investment and commercial financing, diversification of power mix from domestic resources (solar), clean energy transition and decarbonization.

Why is Uzbekistan halting natural gas exports?

Driven by rapidly increasing domestic energy demand, Uzbekistan has shifted from being an energy exporter to an importer since 2020,. As a result, the government has planned to halt natural gas exports to meet the country's needs.

Who will sell electricity to in Uzbekistan?

The project company is committed to selling electricity to the state-owned National Electric Grid of Uzbekistan JSC under a 25-year Power Purchase Agreement for the project, including a 10-year operating term for the BESS component, signed by these two entities.