Uzbekistan's Ministry of Investment and Foreign Trade signed project implementation agreements in strategic energy sector with Mubadala, Abu Dhabi's investment and development fund, and its subsidiary Masdar, the ministry's press service said Saturday.
The project agreement signed between Uzbek Ministry of Investment and Foreign Trade and United Arab Emirates' Masdar company envisages building of a 400 MW wind farm in Navoi region, southwestern part of Uzbekistan, to be commissioned in two years, according to the statement.
Under the agreement, Masdar will design, finance, build and operate a wind farm, Uzbek ministry said adding that the project would cost 600 million U.S dollars.
Under another agreement signed with Mubadala Investment Company, Uzbekistan plans to implement a project on the privatization of existing power units and construction of the new units on the basis of Talimarjan Thermal Power Plant in Kashkadarya region.
The ministry said that the privatization process with the purchase of the shares of the power plant facility is planned by the Emirates' company in the third quarter of 2020.
Uzbekistan has already signed an investment agreement with Masdar on the construction of a photovoltaic power station with a total capacity of 100 MW in Navoi region in 2019.