Navoi Scaling Solar

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The proposed comprises the development, design, financing, construction, ownership, operation and maintenance of a 100MWac/130MWp solar photovoltaic (PV) plant in Navoi region of Uzbekistan (the “Project”) under the Scaling Solar (“SS”) programmatic approach. “Nur Navoi Solar” Foreign Enterprise LLC (the “Borrower” or the “Company”) has been established to implement the Project. The Project is being developed by Abu Dhabi Future Energy Company PJSC (“Masdar”), a renewable energy and sustainable urban development company wholly owned by Mubadala Investment Company PJSC (“Mubadala”). The Project is also being supported by a US$5 million Guarantee from the International Bank for Reconstruction and Development (“IBRD”).  The Project is expected to be completed within 12 months under a turnkey EPC Contract, with construction activities commencing in Q3/Q4 2020. The EPC contractor will also provide Operations & Maintenance (“O&M”) services for the first 2 years following COD, subsequently to be replaced by an affiliate of Masdar.  The plant is anticipated to be operational for 25 years.The Project is located in the Navoi region, and the site is situated approximately 450 km southwest of Tashkent, 35 km east of Navoi City 3.2 kilometers away from the small village of Uzumzor within a 268-hectare plot of land.  The proposed plant is a medium size utility grade grid-connected solar-PV power system consisting of approximately 300,000 PV panels, string inverters, power conditioning units, 220 kV step-up power transformers and grid connection equipment. Any interconnections to the grid will be constructed within the proposed boundary of the site. The plant will feed power directly into the grid with no batteries employed.  Access to the site is via a short length of existing secondary road connecting to the national highway (“M37”).Two livestock farms are located in the northern and southern boundaries of the site.  The closest identified residential areas are the village of Uzumzor (~600 inhabitants), located approximately 2.6 km east from the boundary of the site, and a small village-sized cluster (~100 inhabitants) of residential properties approximately 2.2 km south. IFC has existing investments with Masdar (200 MW solar Baynouna Masdar Jordan #39339, disclosed in 2017 and 158MW Dolovo Wind Serbia #33839, disclosed in 2014) which are both currently under supervision. The Company’s environmental and social (“E&S”) performance to date has been satisfactory. The Project is expected to employ approximately 140 workers at the construction start, 900 workers during peak construction and up to 117 workers at the end of construction; during operation, there is expected to be 22 workers in site working in shifts. The EPC site management team is expected around 30 individuals across the construction period.