TASHKENT, Uzbekistan, November 3. The European
Bank for Reconstruction and Development (EBRD) and the European
Union are supporting Uzbekistan in reducing its dependence on
carbon-heavy thermal power by financing the construction of a solar
power plant in the country’s Khorezm region, the EBRD told Trend.
The EBRD will provide a financial package totaling up to $54.6
million to Sarimay Solar (a special-purpose company fully owned by
Voltalia, a global energy producer based in France). This package
includes a senior loan of $44.8 million and an additional special
facility worth 9 million euros to help Sarimay Solar during the
plant’s construction phase.
The project also benefits from an unfunded guarantee covering a
senior loan tranche of $7 million backed by the European Union’s
European Fund for Sustainable Development Plus. The EU support is
aimed at accelerating climate change mitigation technologies in
high-barrier economies outside the EU where the EBRD operates.
With this financing, Sarimay Solar will construct and operate a
100 MWac (126 MWdc) greenfield solar photovoltaic plant, which will
contribute to Uzbekistan’s ambitious goal of installing up to 25 GW
of solar and wind energy by 2030.
Awarded through a competitive tender, this project marks
Voltalia’s entry into Uzbekistan’s renewable energy sector. Once
operational, the plant is expected to generate up to 252 GWh of
electricity annually, offsetting more than 141,000 tons of CO₂
emissions each year.
Uzbekistan remains the largest EBRD funding recipient in Central
Asia for the fourth consecutive year. To date, the Bank has
invested around €4.9 billion across 167 projects in the country,
with a significant focus on fostering private entrepreneurship.
