Abu Dhabi clean energy company Masdar’s total investment in Uzbekistan has reached $4 billion, with 1.4 gigawatts of clean energy from its projects now connected to the national grid in the country.
The company on Thursday signed an implementation agreement to develop a two-gigawatt wind farm announced in May.
The new agreement also includes the deployment of 1,150 megawatt hours (MWh) of battery energy storage capacity, up from the 500 MWh announced in May, across five of the company's projects in Uzbekistan, Masdar said on Thursday.
Meanwhile, the projects connected to the country's grid include the Zarafshan wind farm and three solar projects located in Jizzakh, Samarkand and Sherabad, which represent the largest solar development programme in the region.
“The historic UAE consensus achieved at Cop28 sets out an ambitious climate agenda to keep 1.5°C within reach by transitioning to clean energy projects and reducing harmful emissions,” said Dr Sultan Al Jaber, UAE Minister of Industry and Advanced Technology, chairman of Masdar, and Cop28 President.
Delegates at the UN summit in Dubai agreed to a deal this month that would, for the first time, push nations to transition away from fossil fuels to avert the worst effects of climate change.
“These ambitious projects will be an essential contribution to that shared goal, as we partner with Uzbekistan to support its clean energy objectives and strengthen the already powerful bond between our two nations,” Dr Al Jaber said.
“The world has come together to set a target of tripling renewable energy capacity by 2030, and that means delivering projects at a scale greater than we ever reached before.”
Uzbekistan is targeting seven gigawatts of solar and five gigawatts of wind capacity by the end of this decade as part of its plans to generate 25 per cent of its energy from renewables.
Masdar has been active in Uzbekistan since 2019, with the development of the nation’s first successfully financed independent power producer solar project, the 100MW Nur Navoi Solar Project, operational since 2021.
At the end of last year, Masdar was also awarded Uzbekistan’s Bukhara Solar PV project, the first of its kind in Central Asia, with a 250MW solar capacity and a 126MWh battery energy storage system.
In June, Masdar was awarded the country’s Guzar Solar PV project with a capacity of 300MW and 75MWh storage capacity.
Meanwhile, the new two-gigawatt wind farm it will develop will produce enough electricity to power around one million homes, while displacing approximately 4 million tonnes of carbon dioxide emissions annually, Masdar said.
“Uzbekistan is a key strategic destination for Masdar. The connection of these great projects demonstrates our long-term commitment to Uzbekistan and our capability to fast-track projects, taking them from inception to implementation,” said Masdar chief executive Mohamed Al Ramahi.
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Nigel Farage told Reform's annual conference that the party will proscribe the Muslim Brotherhood if he becomes Prime Minister.
"We will stop dangerous organisations with links to terrorism operating in our country," he said. "Quite why we've been so gutless about this – both Labour and Conservative – I don't know.
“All across the Middle East, countries have banned and proscribed the Muslim Brotherhood as a dangerous organisation. We will do the very same.”
It is 10 years since a ground-breaking report into the Muslim Brotherhood by Sir John Jenkins.
Among the former diplomat's findings was an assessment that “the use of extreme violence in the pursuit of the perfect Islamic society” has “never been institutionally disowned” by the movement.
The prime minister at the time, David Cameron, who commissioned the report, said membership or association with the Muslim Brotherhood was a "possible indicator of extremism" but it would not be banned.
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Gearbox: Eight-speed automatic
Power: 707hp @ 6,000rpm
Torque: 875Nm @ 4,800rpm
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2018 World Cup qualifying: Asia fourth round play-off first leg
Venue: Hang Jebat Stadium (Malacca, Malayisa)
Kick-off: Thursday, 4.30pm (UAE)
Watch: beIN Sports HD
* Second leg in Australia scheduled for October 10
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Most%20ODI%20hundreds
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Why it pays to compare
A comparison of sending Dh20,000 from the UAE using two different routes at the same time - the first direct from a UAE bank to a bank in Germany, and the second from the same UAE bank via an online platform to Germany - found key differences in cost and speed. The transfers were both initiated on January 30.
Route 1: bank transfer
The UAE bank charged Dh152.25 for the Dh20,000 transfer. On top of that, their exchange rate margin added a difference of around Dh415, compared with the mid-market rate.
Total cost: Dh567.25 - around 2.9 per cent of the total amount
Total received: €4,670.30
Route 2: online platform
The UAE bank’s charge for sending Dh20,000 to a UK dirham-denominated account was Dh2.10. The exchange rate margin cost was Dh60, plus a Dh12 fee.
Total cost: Dh74.10, around 0.4 per cent of the transaction
Total received: €4,756
The UAE bank transfer was far quicker – around two to three working days, while the online platform took around four to five days, but was considerably cheaper. In the online platform transfer, the funds were also exposed to currency risk during the period it took for them to arrive.
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