Advisers appointed for 200MW wind project in Uzbekistan
India’s Synergy Consulting has been appointed as the transaction adviser (TA) for the procurement of a 200MW wind power project in Uzbekistan, the country’s second competitively tendered utility-scale wind project
India’s Synergy Consulting has been appointed as the transaction adviser (TA) for the procurement of a 200MW wind power project in Uzbekistan.
UK-based White & Case has been appointed as legal adviser, with Juru Energy and GOPA International Energy having been appointed as technical advisers for the 200MW wind project.
The advisory team was selected by the European Bank for Reconstruction and Development (EBRD) to support the Uzbekistan government tender and appoint a developer for the wind energy project, which will be developed under the independent power producer (IPP) model.
The project is the second wind IPP that EBRD is assisting the Uzbekistan government with.
Earlier in October, Saudi Arabia’s Acwa Power was approved as the preferred bidder of the 100MW Qorao’zak wind project in the Karakalpakstan region of Uzbekistan.
Acwa Power had submitted a bid of $25.65/MWh in Uzbekistan’s wind tender. The Saudi developer saw off competition from UAE-based Masdar and France’s Voltalia, which had submitted bids of $26.55/MWh and $32.79/MWh respectively.
The bids were opened on 16 September.
“The tender is a landmark for Uzbekistan – the first competitively procured wind power plant in the country. The tariff achieved represents a major success for the country’s power sector and shows what a combination of ambitious policy targets and proper competition can achieve,” said Aida Sitdikova, EBRD Director, Energy Eurasia, Middle East and Africa, following the bid opening.
The project is part of Uzbekistan’s target to develop significant wind and solar capacity by 2030. The country’s energy ministry had set a target of developing 3GW of wind capacity by 2030, however this target is expected to be increased to 5GW in the next review of the long-term development plan.
Uzbekistan is set to increase its 2030 target for solar energy from 5GW to 7GW.
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