According to Vagit Alekperov, president of Lukoil, at the initial stage the new plant will have a capacity of 100 MW. The plan is, however, to increase this to one gigawatt in the future.
The project is expected to be jointly implemented by Lukoil, the Uzbek government and the Asian Development Bank, and overall project investment is estimated at more than USD$6 billion. Further details on its implementation period or where it will be location were not disclosed.
This is not the first solar project implemented by Lukoil outside of Russia. The company is also working on a solar power plant in Bulgaria.
In recent years, Uzbekistan has significantly focused its attention on the development of renewable energy resources and, in particular, solar energy, in a bid to diversify its energy balance and reduce its dependence on gas.
As part of its current plans, the government intends to design a state concept for the development of renewable energy sources by the end of this year.
Furthermore, Uzbekistan is said to be cooperating with the Asian Development Bank to establish a National Institute for Solar Energy. Set to become a scientific center, it will be responsible for the implementation of projects in the field of solar energy.