South Korean trading company POSCO Daewoo Corp (KRX:047050) intends to build a photovoltaic (PV) module factory in Uzbekistan and add 2-GW of solar capacity in the country, the Tashkent Times reports.
The online newspaper wrote on Friday that the company, part of steel products maker POSCO (KRX:005490), has struck a deal with Uzbekistan’s State Committee on Investments regarding the project. According to the report, the total value of the projects is estimated at USD 637.5 million (EUR 534m), about USD 127.5 million of which will come from foreign direct investment.
Specific details about the solar plants that will be installed as part of the initiative were not provided. The facilities will be constructed under the public-private partnership model.
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.