The European Bank for Reconstruction and Development has organized two syndicated loans worth up to $520 million to build and put into operation two wind farms with a total capacity of up to 1 GW in the Bukhara region of Uzbekistan, Gazeta.ru reports.
The government of Uzbekistan and the Saudi company ACWA Power signed agreements in January 2021 on the construction of two wind farms in the Peshkun and Gijduvan districts of the Bukhara region. ACWA Power has established two engineering companies to carry out these projects, Dzhankeldy Wind and Bash Wind.
The EBRD loan of up to $277 million to Bash Wind will consist of a loan A of up to $150 million from the EBRD and a loan B of up to $127 million to be syndicated to commercial banks.
The new wind farm will produce 1,650 GWh of electricity annually and help reduce annual CO2 emissions by 930,000 tons, the report said.
The $243 million EBRD loan to Dzhankeldy Wind will consist of a $150 million A loan from the EBRD, with the remaining $93 million syndicated to commercial banks.
This power plant is expected to generate 1,550 GWh of electricity annually and help reduce annual CO2 emissions by 890,000 tons.
Both projects may also be co-financed by Deutsche Investitions und Entwicklungsgesellschaft (DEG), Proparco, Standard Chartered Bank and commercial banks, the EBRD added.
The plan for the deployment of renewable energy sources in Uzbekistan aims to create 12 GW of solar and wind energy by 2030, the EBRD recalled.
CentralasianLIGHT.org
December 14, 2022