Energy Masdar set to build over 2gw solar projects in Uzbekistan By Pramod Kumar May 21, 2023, 6:54 AM Masdar Masdar signs agreement to develop more renewable projects in Uzbekistan Abu Dhabi Future Energy Company (Masdar) has signed an agreement with Uzbekistan’s energy ministry and ministry of investments, industry and trade to develop new renewable energy projects. The company will develop over two gigawatts (gw) of solar and wind projects and 500 megawatts (mw) hours of battery energy storage at multiple sites across the central Asian country. Uzbekistan plans to achieve 7gw of solar and 5gw of wind capacity by the decade’s end. The country aims to reach 25 percent of its energy mix from renewables by 2030. Dr Sultan Al Jaber, UAE minister of industry and advanced technology and chairman of Masdar, said: “Uzbekistan is a key strategic partner, and we continue to work together to deliver renewable energy projects that power homes and businesses, while crucially cutting emissions.” Masdar has been active in Uzbekistan since 2019, with the 100mw Nur Navoi solar project, the first independent power producer project. The plant has been operational since 2021. The UAE renewable energy producer’s growing portfolio in Uzbekistan includes the largest wind farm in central Asia, the 500mw capacity Zarafshan plant. Last month, Masdar reached financial close on three solar projects in Jizzakh, Samarkand and Sherabad, which have a combined capacity of around 900mws. Once fully operational, the projects will generate electricity to power over one million homes and displace one million tonnes of carbon dioxide annually. Established in 2006, Masdar is engaged in more than 40 countries and has invested in a portfolio of renewable energy projects with a combined capacity of more than 20 GW. The company is committed to achieving at least 100 GW of total renewable energy capacity by 2030.
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Business of Sport Manchester City reports record revenues Despite a recent slump in form on the pitch, the Abu Dhabi-backed English football team Manchester City is thriving commercially, its annual report revealed this week. The club has announced record-breaking revenues of £715 million ($903 million) for the past year, with profits of £73.8 million. Chairman Khaldoon Al Mubarak said: “Our focus remains on […] 1 day ago
