EBRD Approves US$142 Million Financing For Uzbekistan’s Largest 1 GW Solar And 1,336 MWh Battery Energy Storage Project With ACWA Power - SolarQuarter
Published December 14, 2025
EBRD Approves US$142 Million Financing For Uzbekistan’s Largest 1 GW Solar And 1,336 MWh Battery Energy Storage Project With ACWA Power
The European Bank for Reconstruction and Development (EBRD) has officially approved a financing package amounting to US$142 million for the development of a significant solar energy project in Uzbekistan. This initiative, which is a collaboration with ACWA Power, aims to establish the largest solar power plant in the country, boasting a capacity of 1 gigawatt (GW) and complemented by a 1,336 megawatt-hour (MWh) battery energy storage system.
This project, located in the Navoi region of Uzbekistan, marks a pivotal step in the nation’s transition toward renewable energy sources. It is anticipated to generate approximately 2.5 billion kilowatt-hours (kWh) of electricity annually, which is expected to meet the energy needs of around 1.5 million households. Furthermore, the project is projected to significantly reduce carbon emissions, contributing to Uzbekistan's commitment to sustainable development and environmental protection.
The financing from the EBRD is part of a broader effort to enhance the renewable energy landscape in Uzbekistan, which has set ambitious targets for increasing the share of renewables in its energy mix. The country aims to achieve 30% of its total installed energy capacity from renewable sources by 2030. This project aligns with those goals and demonstrates the EBRD's ongoing support for sustainable energy initiatives in the region.
ACWA Power, a leading developer, investor, and operator of power generation and water desalination plants, is at the forefront of this project. The company has a proven track record in renewable energy development and is committed to advancing clean energy technologies. The collaboration with ACWA Power will leverage their expertise in solar power generation and energy storage solutions, ensuring the successful implementation of the project.
The solar power plant will utilize advanced photovoltaic (PV) technology, which is known for its efficiency and reliability. The inclusion of a large-scale battery energy storage system is particularly noteworthy, as it will enable the storage of excess energy generated during peak sunlight hours. This stored energy can then be dispatched during periods of high demand or when sunlight is not available, thereby enhancing the stability and reliability of the electricity supply.
In addition to its environmental benefits, the project is expected to create numerous job opportunities in the region. During the construction phase, thousands of jobs will be generated, providing a significant boost to the local economy. Furthermore, once operational, the solar power plant will require ongoing maintenance and management, leading to additional long-term employment opportunities.
The EBRD’s involvement in this project underscores its commitment to promoting sustainable energy solutions in emerging markets. The bank has been actively investing in renewable energy projects across Central Asia, with a focus on supporting countries in their efforts to reduce reliance on fossil fuels and transition to cleaner energy sources. The financing for the Uzbekistan solar project is part of a larger portfolio of renewable energy investments by the EBRD, which aims to facilitate the transition to a low-carbon economy in the region.
Uzbekistan has immense potential for solar energy generation due to its geographical location, characterized by high levels of solar irradiation. The government has recognized this potential and is actively working to create a conducive environment for renewable energy investments. This includes implementing regulatory reforms, providing incentives for private sector participation, and fostering partnerships with international financial institutions.
In recent years, Uzbekistan has made significant strides in diversifying its energy sources and increasing the share of renewables in its energy mix. The country has already launched several renewable energy projects, including wind and solar initiatives, and is continuously exploring new opportunities to harness its natural resources for sustainable energy production.
The solar power project in Navoi is expected to play a crucial role in achieving Uzbekistan's renewable energy targets and enhancing energy security. By investing in solar energy and battery storage, the country is taking significant steps toward reducing its carbon footprint and promoting sustainable economic growth.
As the world increasingly shifts toward renewable energy solutions, projects like the one in Uzbekistan serve as a model for other nations seeking to harness clean energy resources. The collaboration between the EBRD and ACWA Power highlights the importance of partnerships in driving innovation and advancing the global energy transition.
In conclusion, the EBRD's approval of US$142 million in financing for Uzbekistan's largest solar and battery energy storage project represents a significant milestone in the country's renewable energy journey. This project not only aims to provide clean and sustainable energy but also to stimulate economic growth and job creation in the region. As Uzbekistan continues to invest in renewable energy, it sets a precedent for other countries in Central Asia and beyond, showcasing the potential for solar power to transform energy systems and contribute to a more sustainable future.
No comments:
Post a Comment