Uzbekistan to Build New Solar Plant and First Battery Energy
The financing package includes up to $53 million loan from IFC and loans for up to $106 million from the Asian Development Bank (ADB), Dutch Entrepreneurial Development
7. The Project builds on the World Bank energy program in Uzbekistan by scaling up the private investment and commercial financing, diversification of power mix from domestic resources (solar), clean energy transition and decarbonization.
The project company is committed to selling electricity to the state-owned National Electric Grid of Uzbekistan JSC under a 25-year Power Purchase Agreement for the project, including a 10-year operating term for the BESS component, signed by these two entities.
Uzbekistan also adopted its first law regulating PPP, the Public–Private Partnership Law, 8. in June 2019. This is a major milestone in the promotion of PPP projects and the attraction of foreign investors for major infrastructure projects. The PPP Law provides numerous benefits for PPP projects including state guarantees.
Structural reforms and effective economic management thus far have helped maintain macroeconomic stability and an environment to further accelerate market transition through the next phase of structural reforms. Over the past decade, Uzbekistan has maintained high and stable economic growth at 5.8 percent on average.
PDF version includes complete article with source references.
Get technical specifications, ROI analysis tools, and pricing information for our BESS integration and energy storage solutions.
Av. de la Innovación 15
28042 Madrid, Spain
+34 91 133 2769
Monday - Friday: 9:00 AM - 6:00 PM CET