April 26 (Renewables Now) - The International Finance Corporation (IFC), a member of the World Bank Group, said on Monday that it has signed an agreement to advise Uzbekistan as it prepares to open the market for up to 500 MW of wind farm projects.
The government of Uzbekistan is structuring a public-private partnership (PPA) to mobilise the private sector experience and capital to construct and operate the wind farms across the country, IFC said.
The Central Asian nation has set the target to generate 25% of its power from renewables by 2026, the goal that it plans to achieve by developing 5 GW of solar and 3 GW of wind power capacity.
IFC highlighted its presence in Uzbekistan and advisory services it provided to the government on attracting private investments in the energy sector on transparent and competitive terms. One of the notable projects that the financial institution supported in the country is the 100-MW Nur Navoi solar farm installed by Abu Dhabi’s renewables company Masdar.
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