TASHKENT, May 21, 2024 — The World Bank Group, Abu Dhabi Future Energy Company PJSC (Masdar), and the Government of Uzbekistan have signed a financial package to fund a 250-megawatt (MW) solar photovoltaic plant with a 63-MW battery energy storage system (BESS). The project aims to expand clean an Contact online >>
TASHKENT, May 21, 2024 — The World Bank Group, Abu Dhabi Future Energy Company PJSC (Masdar), and the Government of Uzbekistan have signed a financial package to fund a 250-megawatt (MW) solar photovoltaic plant with a 63-MW battery energy storage system (BESS). The project aims to expand clean and reliable electricity access to approximately
ACWA Power plans to build a 500 MW solar plant and a 500 MWh battery energy storage system in Uzbekistan under a project proposed by the Asian Development Bank (ADB).
Saudi Arabian developer ACWA Power has signed a binding implementation agreement with the Ministry of Energy (MoE) of Uzbekistan to develop up to 2 GWh of standalone battery energy storage system (BESS) capacity across the country.
Uzbekistan is in line for its first grid-scale battery energy storage project as it seeks to stabilize and strengthen its existing electricity grids and ramp up the uptake of renewable...
Uzbekistan remains one of the most energy-intensive economies in the world. Energy use is largely based on fossil fuels, although the country has significant RE potential in solar and wind. Natural gas makes up to 83 percent of total primary energy consumption and more than 80 percent of the electricity mix.
Nur Bukhara Solar PV LLC FE, a project company owned by Masdar, will deliver a 63 MW battery energy storage system alongside a 250 MW solar plant in south-central Uzbekistan.
Uzbekistan is in line for its first grid-scale battery energy storage project as it seeks to stabilize and strengthen its existing electricity grids and ramp up the uptake of renewable energy.
Nur Bukhara Solar PV LLC FE, a project company owned by Masdar, will deliver the 63 MW battery energy storage system alongside a 250 MW solar plant in the Alat district of the Bukhara region of south-central Uzbekistan. The project company has signed a 25-year power purchase agreement with the National Electric Grid of Uzbekistan and a 10-year operation term for the storage system.
Upon completion, the project is expected to generate more than 585 GWh of renewable energy per year, expanding reliable electricity access to approximately 75,000 households.
The World Bank Group, the Government of Uzbekistan, and Masdar have signed a financial package for the construction and operation of the project. It includes a $53 million loan from the International Finance Corporation (IFC) and loans for up to $106 million from the Asian Development Bank (ADB), Dutch Entrepreneurial Development Bank, and Japan International Cooperation Agency.
The package also includes granted concessional senior loans of $20 million each from the Canada-IFC Blended Climate Finance Program and ADB-managed Leading Asia''s Private Sector Infrastructure Fund, while The World Bank is providing a guarantee of up to $12 million to support the government''s payment obligations under the project.
"Our growing partnership with Uzbekistan in renewables is bringing clean and sustainable energy to the population at competitive prices," said Wiebke Schloemer, IFC Director for Türkiye and Central Asia. "The new solar plant with a battery energy storage system will not just boost the uptake of renewable energy in the country, but also help stabilize and strengthen existing electricity grids and aid the global fight against climate change."
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The Saudi renewable power company Acwa Powerhas agreed with Uzbekistan’s energy ministry to develop up to two gigawatt hours (GWh) of standalone battery energy storage systems capacity (BESS) avross the Central Asian country.
Under the agreement, Acwa Power will receive contractual priority for 2 GWh of new BESS capacity in Uzbekistan, which will allow it to offer competitive tariffs.
The European Bank for Reconstruction and Development (EBRD) is playing a pivotal role in Uzbekistan''s ambitious renewable energy targets by financing a landmark project comprising a 200 MW solar photovoltaic power plant and a 500 MWh battery energy storage system (BESS) in the Tashkent region. This initiative, spearheaded by ACWA Power Riverside Solar, marks one of the largest BESS projects supported by the EBRD within its operational economies.
The project aims to contribute significantly to Uzbekistan''s goal of developing up to 25 GW of solar and wind capacity by 2030, crucial for enhancing the country''s energy security and reducing dependency on carbon-intensive thermal power generation. Once operational, the solar facility is expected to generate approximately 418 GWh of electricity annually, slashing annual CO2 emissions by over 230,000 tonnes.
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