Phanes inks investment, off-take deals for 200-MW Uzbek solar project
Solar panels. Featured Image: pornvit_v/Shutterstock.com
April 6 (Renewables Now) - Dubai-based solar developer Phanes Group today unveiled major contracts that will facilitate the construction of a 200-MW photovoltaic (PV) park in Uzbekistan’s Navoi region.
The UAE company has struck an investment agreement with the Uzbek government, which covers the technical and commercial terms for building the power plant, its ownership and operations. The pact also sets terms for the installation of related facilities that will link the solar farm in Nurata city to an existing substation in Khimiya.
While specific details about the project were not provided, Phanes Group said it will sell the generate electricity through a power purchase agreement (PPA) with the National Electric Grid of Uzbekistan.
Ravnaq-bank JSC will act as a coordinator between Phanes Group and state organisations in the Asian country.
Uzbekistan has set a goal of expanding its power generation capacity to 30 GW by 2030, making solar PV account for 5 GW of this total. “Our country is strongly committed to a low-carbon strategy and increasing the share of renewable energy in our energy mix,” said Sherzod Khodjaev, deputy energy minister of Uzbekistan.
Veselina Petrova is one of Renewables Now's most experienced green energy writers. For several years she has been keeping track of game-changing events both large and small projects and across the globe.