The construction of photovoltaic (PV) plant in Uzbekistan, which will be financed by French Total Eren, is the first large-scale renewable energy project and the first Independent Power Project (IPP) in the country, representative of Total Eren told Trend in an interview.
Recently it was reported that Total Eren is investing 150 million euros in the construction of a photovoltaic station with a total capacity of 100 MW in Samarkand region of Uzbekistan.
"This is the first investment to be made by Total Eren in Uzbekistan," the representative stated.
The official noted that PV plant will be connected to the National Electric Grid of Uzbekistan and benefit to the people of Uzbekistan.
"The project will generate electricity equivalent in the volume for consumption by 150,000 people. It will also contribute to improving social and economic conditions locally," the official added.
The official noted that the terms and conditions of the 25-year Power Purchase Agreement (PPA) signed with the National Electric Networks of Uzbekistan are based on the most updated international standards, making it a land-mark project attracting interest from multiple international lenders.
"This move fits Total Eren’s strategy to expand its portfolio globally, in particular in Central Asia and Uzbekistan, a country with great renewable energy potential coupled with an increasing positive business environment," the representative said.
The representative added that Total Eren welcomes the ambitious targets set by the government of Uzbekistan for the development of the solar and wind sectors in the coming years, and is eager to contribute to the development of the country’s renewable energy sector.
Total Eren is a leading French-based IPP from renewable energy sources (solar, wind, hydro), with more than 2,400 MW of gross capacity in operation or under construction on the 5 continents.
The company aims to achieve a global net installed capacity of more than 3.7 GW by 2022, and is supported by strong strategic and financial shareholders, including Eren Groupe, Total S.A, Bpifrance, Tikehau, NextWorld Group and FFP.
In Central Asia, Total Eren started developing renewable energy projects in 2017.
Follow us on Twitter @AzerNewsAz