Image: Aboodi Vesakaran, Unsplash
The EBRD and the European Union are financing the development of a 126 MW greenfield solar power plant in the Khorezm region in the northwest of the country. Uzbekistan.
The EBRD’s $54.6 million financial package consists of a senior loan of up to $44.8 million and a special facility of $9.8 million. The European Union is providing a senior loan tranche of $7 million through its European Fund for Sustainable Development Plus.
The financing has been awarded to Sarimay Solar, a wholly owned specialty company Voltaliaa French developer of renewable energy sources.
The project, awarded through a public tender, is Voltalia’s first in Uzbekistan. It is currently under construction and is scheduled for commissioning in the second half of 2025.
Once operational, the plant is expected to generate up to 252 GWh of electricity per year, covering the power consumption of approximately 60,000 people.
Figures from the International Renewable Energy Agency (IRENA) show that Uzbekistan had installed 253 MW of solar power by the end of 2023, while no new solar capacity was added in the country last year.
In March this year, Abu Dhabi Future Energy Co. closed. (Masdar) the first phase of a 511 MW solar energy project in Eastern Uzbekistan. Work on one started in September 263 MW factory near the national capital Tashkent.
Uzbekistan has set a target of developing up to 25 GW of solar and wind capacity by 2030.
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