Asian Development Bank (ADB) and Abu Dhabi Future Energy Company PJSC (Masdar) signed a $30 million financing package to develop a 300 MW solar power plant and 75 MWh battery energy storage system in Guzar City, Kashkadarya Region, Uzbekistan. The financing comprises a $12.5 million loan from ADB, a $12.5 million loan from the Leading Asia’s Private Infrastructure Fund 2, and a $5 million loan from the Canadian Climate and Nature Fund for the Private Sector in Asia. The project’s scope also includes the construction of electrical interconnection facilities comprising 1.6 km of transmission lines and a 220 kV substation, to help integrate renewable energy into the national power grid.

Zimbabwe announced a 600 MW floating solar project in Lake Kariba. Construction of the floating solar project is scheduled to begin in the second quarter of 2026. The project is expected to be commissioned by 2030-2031. The floating solar project will cover 10 sq km over Lake Kariba’s surface. It is funded by the government, through private-sector investment led by Green Hybrid Power, and with support from the African Export-Import Bank, which provided a $4.4 million preparatory facility for bankability and feasibility work.

Masdar announced that its renewable energy portfolio has reached 65 GW, up from 51 GW in 2025. Out of the 65 GW  portfolio, 45 GW is operational and under construction. The company has also committed to an advanced pipeline of 20 GW, placing Masdar two-thirds of the way to its 100 GW target by 2030. Masdar plans to deploy an additional $30 billion- $35 billion in equity and project finance by 2030, adding an average of 10 GW of new capacity each year.

Integrated Rooftop Solar Corporation (IRSC) signed the deal to supply renewable power to El Nahda Cement under a long-term purchase agreement. The 30-year PPA has been signed between El Nahda Industries and Cobalt, an IRSC subsidiary. Under the agreement, Cobalt will finance, build, and operate a 27 MW solar power project to power El Nahda’s cement facility in the Qena governate.