The European Bank for Reconstruction and Development (EBRD) is providing a $19.3 million loan to ACWA Power Wind Karatau for the construction of a 100 MW wind farm in Karakalpakstan autonomy.
The project will be co-financed by the German development finance organization Deutsche Investitions- und Entwicklungsgesellschaft (DEG) and the French development agency Proparco.
The new generators, with a total capacity of 100 MW, are expected to generate over 300 GWh of electricity from renewable sources annually, avoiding the emission of more than 178,000 tons of CO2 per year into the atmosphere.
“We are proud to support our longtime customer ACWA Power and this 100 MW wind farm in the Republic of Karakalpakstan in Uzbekistan. The Aral Sea region is rebuilding its economy by capitalizing on its wind and solar resources,” said Nandita Parshad, Managing Director of the EBRD's Sustainable Infrastructure Group.
To date, the EBRD has financed the creation of renewable energy capacities in Uzbekistan with a total volume of 2,700 MW. It is also working with the country's authorities on a bidding program for the construction of wind farms with a total capacity of 2,000 MW.
The wind farm project in Karakalpakstan is the first under this program. The closing price was a record low for Central Asia, proving the commercial viability of private wind power and moving Uzbekistan closer to realizing its renewable energy potential, the report said.
The project will also support the participation of women in the development of renewable energy in the country. ACWA Power will increase access to market-demanded skills and employment opportunities for young women in Uzbekistan by working in partnership with local technical universities to introduce a new gender-responsive certified internship program.
ACWA Power Wind Karatau was registered in Uzbekistan and is owned by ACWA Power Saudi Arabia.
