Masdar Plans Three Solar Projects in Uzbekistan
Posted on 04/10/2023
Masdar, whose full name is The Abu Dhabi Future Energy Company, has raised funds for three solar photovoltaic energy farms in Uzbekistan. Monies will come from the Asian Development Bank, the Asian Infrastructure Investment Bank, the European Bank for Reconstruction and Development, and the European Investment Bank. In all, 900 MW are expected to be produced, powering 1 million homes. The plants will begin operation in 2024. Abu Dhabi’s sovereign wealth fund Mubadala Investment Company owns a 33% share in Masdar, state-owned TAQA has a larger share at 43%, and Abu Dhabi National Oil Company maintains 24%.