Uzbekistan has inaugurated Central Asia's largest wind farm, developed by Abu Dhabi's clean energy company Masdar, as part of efforts to expand the country's clean energy capacity, The Caspian Post reports citing The National.
The Zarafshan wind farm, with 500-megawatt capacity, was inaugurated by Uzbekistan"s President Shavkat Mirziyoyev in the presence of Dr Sultan Al Jaber, Minister of Industry and Advanced Technology and chairman of Masdar, and Suhail Al Mazrouei, Minister of Energy and Infrastructure.
"The UAE and Uzbekistan"s enduring relationship is critical to a shared commitment to drive low-carbon socioeconomic progress and clean energy capacity growth," said Dr Al Jaber.
"Uzbekistan has become a leading investment destination and a clean energy hub for the region as we work to deliver our shared goal of tripling global renewable energy capacity by 2030, as outlined in the historic UAE Consensus."
Masdar has committed to invest $2 billion in clean energy projects in Uzbekistan with a total capacity of more than two gigawatts. It also has four gigawatts of renewables projects in the early stages of development in the country.
In addition, Masdar and the Uzbekistan Ministry of Energy are teaming up to develop a one-gigawatt wind farm in the Mingbulak region of the country. The two parties signed an agreement during the Cop29 climate summit in Azerbaijan last month.
Uzbekistan has ambitions to achieve 20 gigawatts of clean energy capacity by 2030 including the development of solar and wind farms and the country's first battery storage project in partnership with Masdar.
"Uzbekistan has built upon its legacy as a vital artery on the ancient Silk Road - the historic trade route uniting east and west - becoming a key hub for renewables in the region, moving at pace and at scale to develop landmark clean energy projects and attract investment," Mohamed Al Ramahi, chief executive of Masdar, said.
Countries are boosting investment in renewable energies to cut emissions and work to limit the rise in global temperatures.
International investment in renewable energy must triple to $1.5 trillion a year by 2030 to meet global goal of tripling capacity. Despite record spending of $570 billion last year, national plans are set to deliver only half the required renewable power growth, the Abu Dhabi-based International Renewable Energy Agency said in a report this year.
To meet the global goals, installed renewable capacity needs to reach 11.2 terawatts by 2030, from the current levels of 3.9 terawatts.
Since Masdar was established in 2006, it has developed and partnered in projects in more than 40 countries, with a mandate to increase its renewable energy portfolio capacity to 100 gigawatts by 2030, from about 20 gigawatts at present.
Last month, Masdar and China"s Silk Road Fund (SRF) signed an initial agreement to jointly invest in renewable energy projects in Belt and Road Initiative (BRI) countries, mainly in developing countries.
Under the deal, Masdar and SRF will establish a strategic partnership to pursue co-investment opportunities in renewable energy projects developed, invested in or operated by Masdar.
The Silk Road Fund plans to invest up to 20 billion yuan ($2.76 billion) in projects alongside Masdar.
