During the visit of an EBRD delegation to Uzbekistan, an accord was signed on the provision of the first corporate loan in Uzbekistan’s history without a state guarantee for an energy project.
The European Bank for Reconstruction and Development (EBRD) delegation was led by the Sustainable Infrastructure Group Managing Director Nandita Parshad and Central Asia Managing Director Zsuzsanna Hargitai.
A mandate letter for the loan was signed between the EBRD and the National Electricity Networks of Uzbekistan JSC, supervised by the Ministry of Energy.
Funding will be provided for the Sarymai-Zhankeldi 500 kV transmission line project. This line will directly provide the power from future wind power plants in two provinces of the country: 500 MW BASH wind farm (Bukhara province) and 500 MW Dzhankeldy wind farm (Navoi province).
The two wind farm projects are being implemented by ACWA Power (Saudi Arabia) under the public-private partnership terms. On 24 January 2021, an electricity purchase agreement was signed with the project’s general contractor, which will be used to meet the growing demand for electricity of the population and the economy.