UAE In-Focus — Financial close of Masdar’s 500MW Uzbek wind farm

DUBAI: Masdar, one of the global leaders in renewable energy, announced the financial close of its 500MW Zarafshan wind farm project.

Earlier in 2020, the Abu Dhabi-based company signed a bilateral agreement with the Uzbek government to construct, operate, and maintain the Zarafshan wind farm, according to a statement. 

The project is expected to attract more than 2.2 billion dirhams ($600 million) in foreign direct investment, as part of Uzbekistan’s effort to meet 25 percent of its electricity needs by the end of the decade, the statement said.