An overview of legal and practical considerations surrounding renewable energy project development in Uzbekistan, including project finance transaction structures and distributed and residential renewable energy.
Bidder details announced for Uzbekistan s 200MW solar PV station
Out-Law News | 19 May 2021 | 2:27 am |
1 min. read
A solar photovoltaic (PV) power station project in Uzbekistan has moved to the next stage of the procurement process with the announcement of the details of four of the bids for the Asian Development Bank (ADB)-backed project.
The 200 megawatts (MW) solar PV project, in the Sherabad district of the Surkhandarya region, is part of a programme to created 1 gigawatt (GW) of solar PV capacity. The ADB is the transaction advisory provider for the programme.
The 200MW project will be under a public private partnership (PPP) model and will sell generated electricity to the JSC National Electric Networks of Uzbekistan (NENU) under a 25-year power purchase agreement (PPA).
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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.