BAKU, Azerbaijan, March 30. ADB is developing a cooperation strategy in Uzbekistan for the next four years, Head of the ADB Representative Office in Uzbekistan Enrico Pinali said, Trend reports via Uzbek media.
“One of our projects in the private sector is the first Zarafshan wind farm with a capacity of 500 MW in Uzbekistan’s Navoi region,” he brought up an example.
The construction of the wind farm is carried out by UAE’s Masdar. The farm is envisaged to produce about 12 billion kWh of electricity per year, thus saving some 545 million cubic meters of natural gas per year.
The implementation of this project should reduce carbon dioxide emissions by 1.1 million tons per year.
It should be noted that Masdar’s project on wind farm construction project has received the PFI (Project Finance International) Award as the deal of the year in Central Asia. The PFI Awards honor achievement and ingenuity in the global project finance market.
Pinali also noted that the bank also supports Uzbek government's policy aimed at decentralizing the energy sector and ensuring the participation of the private sector.
“Together with the government, our partners, and the private sector, we will continue our projects to create a competitive market environment for development of the energy sector," he said.
Previous reports said that the project's implementation would require about $600 million of foreign direct investment.
