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Although not the first utility-scale wind project to be awarded in Uzbekistan, the Nukus wind project could prove to be the pathfinder for future wind tenders and financings following a host of legislative reforms. So what has changed?
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The government of Uzbekistan’s plans to develop 8 GW of solar and wind capacity by 2030 have received a major boost following the approval of an €87.4 million financing package jointly organised by, the European Bank for Reconstruction and Development (EBRD), the European Investment Bank (EIB) and PROPARCO, a subsidiary of Agence Française de Développement. The funds will be used to construct and put into operation a 100 MW photovoltaic (PV) solar power plant near the city of Samarkand, Uzbekistan.
The package will be provided to project developer Tutly Solar LLC (Tutly Solar), which is fully owned by Total Eren, a leading France-based independent power producer (IPP) for renewable energy sources (mainly solar and wind), active globally. It will consist of an EIB loan of €43.7 million and two loans of approximately €21.8 million each from the EBRD and PROPARCO.
A subsidiary of Total Eren is to receive almost €88m in funding for a 100MW solar farm in Uzbekistan from the European Bank for Reconstruction and Development (EBRD), the European Investment Bank (EIB) and Proparco, a subsidiary of Agence Francaise de Developpement.
The €87.7m finance is for Tutly Solar and will help fund the project near the city of Samarkand.
It will consist of an EIB loan of €43.7m and two loans of approximately €21.8m each from the EBRD and Proparco.
The project will help reduce annual greenhouse gas emissions by 160,000 tonnes of carbon dioxide equivalent and generate 270 gigawatt-hours of electricity.
Monday, 10 May 2021 The government of Uzbekistan’s plans to develop 8 GW of solar and wind capacity by 2030 have received a major boost following the approval of an €87.4 million financing package jointly organized by, the European Bank for Reconstruction and Development (EBRD), the European investment Bank(EIB) and PROPARCO, a subsidiary of Agence Française de Développement. The funds will be used to construct and put into operation a 100 MW photovoltaic solar power plant near the city of Samarkand. Sebastian Ganso from Pixabay
The package will be provided to project developer Tutly Solar LLC, which is fully owned by Total Eren, a leading France-based independent power producer (IPP) from renewable energy sources (mainly solar and wind), active globally. It will consist of an EIB loan of €43.7 million and two loans of approximately €21.8 million each from the EBRD and PROPARCO.