The Asian Development Bank (ADB), together with ACWA Power Company, Sumitomo Corporation, Chubu Electric Power Co. Inc., and Shikoku Electric Power Co. Inc., has signed a landmark financing package to build two utility-scale solar power plants with battery energy storage systems (BESS) in Uzbekistan.
The Samarkand 1 and 2 Solar PV and BESS Projects will be developed across the Samarkand and Bukhara regions of the country.
“ADB is pleased to support Uzbekistan in advancing one of the most significant renewable energy initiatives in Central Asia,” said ADB President Masato Kanda.
The projects will add 1,000 megawatts (MW) of solar capacity and about 1,336 megawatt-hours (MWh) of BESS. They will also include transmission lines and two new substations to strengthen grid stability and connectivity.
Once operational, the projects are expected to supply clean electricity to around 600,000 households and offset about 1.3 million tons of carbon dioxide emissions annually.
ADB arranged a $140 million financing package, comprising $70 million from its ordinary capital resources, $10 million from the ADB-administered Leading Asia’s Private Infrastructure Fund 2 (LEAP 2), and $60 million in syndicated loans with ADB as the lender of record.
