The government of Uzbekistan and International Finance Corporation (IFC), a member of the World Bank Group have signed a mandate for the development of a 900 MW of solar power. The project procurement will be done on a public-private partnership basis and IFC will back it by helping the government in planning and award process.

The mandate includes the development of two 200 MW solar power plants and one 500 MW solar plant. The tenders will be launched in the upcoming months. The tenders are expected to attract approximately US$ 1 billion of investment. 

Uzbekistan held its first renewable PPP tender earlier this year. IFC as a transaction advisor heled to design and tender the PPP project. It attracted 11 prequalified bidders and 5 competitive bids. UAE Masdar Clean Energy was announced a winning bidder and awarded a contract to build a 100-MW solar park.

Uzbekistan is targeting to develop up to 5 GW of solar energy by 2030.