- Published: 14 December 2022 14 December 2022
The European Bank for Reconstruction and Development (EBRD) continues to invest in renewable energy power generation and low-carbon technologies in Uzbekistan.
The Bank has arranged two syndicated loans worth US$ 520 million to help construct and put into operation two wind power plants with a total installed capacity of 1GW in the Bukhara region.
The Bank’s loan of US$ 277 million to Bash Wind Power Plant (WPP) will consist of an A loan of US$ 150 million on the EBRD’s own account and a B loan of US$ 127 million, which will be syndicated to commercial lenders. The new wind power plant will generate more than 1,650 GWh of electricity annually.
The EBRD’s US$ 243 million loan to Dzhankeldy WPP will consist of an A loan of US$ 150 million on the Bank’s account, while the remaining US$ 93 million will be syndicated to commercial banks. This power plant will generate more than 1,550 GWh of electricity annually.
Both Bash Wind and Dzhankeldy Wind are special project companies owned by ACWA Power. The two projects will also be co-financed by the German development finance institution Deutsche Investitions und Entwicklungsgesellschaft (DEG), the French Development Agency Proparco, Standard Chartered Bank and other banks.