Financing closed for 500MWh Uzbekistan
Saudi-listed ACWA Power has announced completion of the dry financial close for the $533 million Tashkent Riverside project in Uzbekistan,
Nandita Parshad, Managing Director, Sustainable Infrastructure Group at EBRD, said: “We are proud to partner with ACWA Power and co-financiers on the pioneering Tashkent Solar PV and energy storage project in Uzbekistan, the largest of its kind in Central Asia. The project is core to Uzbekistan's ambition to install 25GW of renewables by 2030.
ACWA Power and the JSC National Electrical Grid of Uzbekistan signed a 25-year Power Purchase Agreement (PPA) for the development/construction/operation of a 200 MW photovoltaic plant including a battery energy storage system (“BESS”). JSC National Electric Grid of Uzbekistan acts as the sole off-taker.
The agreement today for the Tashkent Riverside project reflects the strong trust placed in ACWA Power as the private sector partner, and one of the global leaders in renewables and energy storage.
By 2030, Uzbekistan is aiming to generate 40% of its electricity from renewables. The BESS will help to mitigate the effects of intermittency that are inherent in renewable energy sources, storing excess electricity generated during times of high production and make it available during periods of low production.
Saudi-listed ACWA Power has announced completion of the dry financial close for the $533 million Tashkent Riverside project in Uzbekistan,
ACWA Power, listed in Saudi Arabia, has completed the financial close for the $533 million Tashkent Riverside project. This project includes a
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