Masdar | Sherabad Solar Project

Overview

In August 2021, Masdar signed an agreement with the Ministry of Investment and Foreign Trade of the Republic of Uzbekistan and JSC National Electric Grid of Uzbekistan to design, finance, build and operate a 457 megawatt (MW) utility-scale solar PV project in the Surkhandarya Region of Uzbekistan.

As lead transaction advisor, the Asian Development Bank assisted the Government of Uzbekistan to structure the project and organize the selection of the winning bidder through an open tender process.

In addition to the Sherabad Solar Project, Masdar is further expanding its footprint in the Republic of Uzbekistan through the development of two utility-scale solar PV projects located in the Djizzakh and Samarkand regions, each with a generating capacity of 220MW.

These projects add to Masdar’s successful track record in the country, building from the 100MW Nur Navoi Solar Project that achieved commercial operations in August 2021 and the 500MW Zarafshan Wind Farm, which achieved financial close in September 2022.

The projects also support Uzbekistan’s national goal of developing 7 gigawatts (GW) of solar and 5GW of wind capacity by 2030.

A first revision of the E&S documents were published on 25 December 2022, they were revised on 17 January 2023 with updates to the assessment of alternatives and biodiversity. After the 30 day disclosure and consultation period as outlined in the Stakeholder Engagement Plan, final documents will be prepared accounting for feedback and published thereafter.