UZ Solar 3

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 The proposed investment will support the development of the Nur Bukhara Solar photovoltaic (“PV”) project with a capacity of 250 MWA and 63 MW/126 MWh Battery Energy Storage System (“BESS”) in Uzbekistan (the “Project). Abu Dhabi Future Energy Company PJSC (“Masdar”) has been awarded by the Ministry of Energy, Government of Uzbekistan, to design, build, finance, construct, commission and operate, maintain and transfer the Project. The Project will be implemented through a long-term, i.e., 25 years power purchase agreement, including a 10-year BESS term, between Nur Bukhara Solar PV LLC FE (the “Project Company”) and JSC National Electric Grid of Uzbekistan (“NEGU”).  The project site covers approximately 649 hectares (ha) of land in the Alat District of the Bukhara region, a region in the southwest area of the Republic of Uzbekistan. It is located 24 km southeast of Alat city, and approximately 25 km from the Turkmenistan border. The proposed site is flat and is surrounded by the Amu-Bukhara Irrigation System (ABIS) canal to the north, south and east. The regional road, R78 runs alongside the northern boundary of the site. The overhead transmission line (OHTL) connection requires the construction of two branches of 220 kV OHTLs with a total length of approximately 3km.  Project construction will be carried out by the Engineering, Procurement, and Construction (EPC) - a consortium of Jakson Ltd, Jakson Green Pvt Ltd & Rail Vikas Nigam Limited.  Early works is expected to start in October 2023, while construction is expected to commence in May 2024 with a total duration of 12 months. Peak construction will be from January to March 2025. Project operations are expected to begin in August 2025. Masdar will appoint a Project Management Company (PMC) to supervise activities of the construction phase.