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.

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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Bash 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.