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Masdar has achieved financial close on a $225 million project for the Guzar 300MW solar power plant and 75MWh battery energy storage system in Kashkadarya, Uzbekistan. The European Bank for Reconstruction and Development (EBRD) will provide up to $195.5 million, supported by financing from Canada and Finland, while the Asian Development Bank (ADB) contributes $30 million.

The project will be designed, built, and operated under a Public-Private Partnership with JSC National Electric Grid of Uzbekistan and is expected to avoid over 400,000 tonnes of CO2 emissions annually, powering approximately 60,000 homes. Masdar's total investment in Uzbekistan exceeds $2 billion, including previous projects like the 100MW Nur Navoi plant. The company targets a global capacity of 100GW by 2030, with significant operations in the CIS region.