Saudi Arabia’s ACWA Power and the Asian Development Bank (ADB) have reached loan agreements for the development of two utility-scale wind power plants in Uzbekistan.
The companies signed $174m worth of loan agreements for developing the Bash and Dzhankeldy wind power plants in the Bukhara region.
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The Bash project has been allocated $40.5m and the Dzhankeldy project $46.5m, funded through ADB’s ordinary capital resources.
Loans of $40.5m and $46.5m for the Bash and Dzhankeldy projects are also being provided by Asia’s Private Infrastructure Fund, an ADB-managed fund.
The two projects will be equipped with 158 turbines.
They will generate 3,235GWh of clean energy annually, while displacing two million tonnes of carbon emissions per year.
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By GlobalDataBash and Dzhankeldy will become the largest wind power projects in the central west Asia region.
The loans will also be used to construct a 282.5km single-circuit overhead transmission that will connect to the power grid.
ADB private sector operations director-general Suzanne Gaboury said: “Uzbekistan is one of the fastest-growing economies in central Asia, and with it comes a growing demand for energy.
“This brings a unique opportunity to invest in decarbonisation and expansion of renewables in the country’s energy mix.
“Bash and Dzhankeldy are landmark greenfield wind power projects, which have a significant demonstrative impact on private sector participation across the region’s energy sector.”
ADB has supported nearly 2.5GW of renewable energy projects in Uzbekistan since 2019.
