๐ Tender Overview
Location:
Uzbekistan
Project number:
54550
Business sector:
Energy
Notice type:
Private
Environmental category:
A
Approval date:
12 Mar 2025
Status:
Exploratory
English-language PSD published:
27 Jan 2025
Project Description
The provision of a long-term, senior loan up to US$ 70 million, for the development, design, construction and operation of a 500MW solar photovoltaic power plant and 500 MWh battery energy storage system (BESS) located in the Samarkand region in Uzbekistan in addition to the interconnection facilities. ACWA Power Sazagan Solar 1 LLC, a special purpose vehicle established in Uzbekistan, will act as the borrower. ACWA Power will act as the sponsor for the Project. Sumitomo Corporation will be a co-sponsor.
Project Objectives
The Project will add 500 MW of solar generation capacity and 500 MWh of BESS to the power system of Uzbekistan. The Project will help to improve reliability of intermittent solar power generation in Uzbekistan by introducing battery storage. The Project is among the largest in Central Asia. Successful implementation of the Project will pave the way for broader implementation of renewable projects as BESS helps mitigate intermittence constraints of renewables' capacity.
Transition Impact
ETI score: 72
The expected transition impact of the project will derive from the increased renewable energy generation and energy storage capacities, which will contribute to the transition to a low-carbon economy in a country that has a high reliance on thermal power generation (Green). The project will also be highly representative in terms of absorbing intermittent renewable generation and the successful implementation of the Project will set an example for the future deployment of electricity storage systems in the country.
Client Information
ACWA POWER SAZAGAN SOLAR 1 LLC
ACWA Power Sazagan Solar 1 LLC is a newly established special purpose vehicle incorporated in Uzbekistan for the development and implementation of the Project. ACWA Power is an international developer of power generation, desalinated water and green hydrogen production projects. Sumitomo Corporation is a global trading and investment company and operates across various geographies and industries including infrastructure, construction systems and energy.
EBRD Finance Summary
USD 70,000,000.00
EBRD senior loan of up to US$ 70 million to the Borrower to finance the Project.
Total Project Cost
USD 770,000,000.00
Additionality
Financing structure: The Bank is highly additional in providing long-term financing at terms and conditions not available in the local market for this major infrastructure project.
Policy, sector, institutional, or regulatory change: The Bank is actively involved in the development of renewables and decarbonisation frameworks in Uzbekistan. The Project is a key milestone for the country's renewables sector due to the storage component which mitigates the intermittenc
