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Lowest Bid submitted for Uzbekistan’s Sherbabad SV Solar Project by Masdar

Masdar, based in the United Arab Emirates, has submitted the lowest bid for Uzbekistan’s proposed 200MW Sherabad photovoltaic (PV) solar independent power producer (IPP) project.

Only Masdar’s offer of $cents1.8045/kWh fell below $2 cents/kWh. The second-lowest tariff, $cents2.1621/kWh, was submitted by a consortium led by China’s Jinko Power and China Power Holding International. Acwa Power of Saudi Arabia submitted a tariff of $cents2.4825/kWh, while Total Eren and Total Solar of France submitted a tariff of $cents3.3940/kWh.

On the 12th of May, the bids were opened in Tashkent.

By the deadline of April 12th, Uzbekistan’s Ministry of Energy had received proposals for the Sherabad project from five different organizations.

In November 2019, Uzbekistan awarded a consortium led by Masdar the contract to build the country’s first solar IPP plant. In December 2020, Masdar announced that the 100MW Navoi solar project had reached a financial close.

Representatives from Masdar, Uzbekistan’s Ministry of Investments and Foreign Trade (MIFT), the International Finance Corporation (IFC), the Asian Development Bank (ADB), the World Bank Group, and the European Bank for Reconstruction and Development (EBRD) signed loan and finance agreements on December 24th during a virtual online signing ceremony (EBRD).

The lowest tariff, $cents2.679 per kilowatt-hour, was submitted by a UAE energy company. The project is being built as part of the International Finance Corporation’s Scaling Solar Program. Uzbekistan has set a goal of generating 5 gigawatts of renewable energy by 2030, with projects under the IFC Scaling Solar program projected to contribute 1 gigawatt to that amount.

The UAE-based Phanes Group recently signed a power purchase agreement (PPA) and other project agreements with the Uzbekistan government to build a 200MW photovoltaic (PV) solar plant in the Central Asian region, according to Energy & Utilities. The 200MW PV plant will be built in Uzbekistan’s Navoi district.

Uzbekistan has set a goal of generating 5 gigawatts of solar power by 2030.

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