From pv magazine ESS news place
Saudi Arabia-listed ACWA Power has announced the completion of the dry financial close for the $533 million Tashkent Riverside project in Uzbekistan, near the country’s capital Tashkent.
The greenfield development includes a 200 MW solar power plant and a 500 MWh BESS that will serve to stabilize the Uzbek electricity grid. According to project proponents, this will be the largest BESS in Central Asia.
The financing documents were signed with six lenders, including the European Bank for Reconstruction and Development (EBRD), Islamic Development Bank, DEG, Proparco, Standard Chartered and KfW-IPEX Bank.
The total debt after signing will be $386 million, accounting for more than two-thirds of the total cost of the project.
The project will play an important role in achieving Uzbekistan’s ambitious goals to transition to a low-carbon economy and diversify its energy sources. By 2030, Uzbekistan aims to install 25 GW of renewable energy sources and generate 40% of its electricity from renewable energy sources.
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