In this week’s instalment of the Stages for Change series, Aife Howse speaks to ING’s Mayke Geradts, director of sustainable finance, on the headwinds posed by working in a relatively new and ever evolving industry.
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Despite the global economic slowdown caused by Covid-19, the pace of development of an independent power project (IPP) market in Uzbekistan is tangibly picking up. This month ACWA Power closed on the $750 million debt financing for the 1.5GW Syrdarya 1 CCGT project – the first large-scale Uzbek IPP financing to reach financial close – and more IPP deals (both renewables and gas-fired) look set to follow given the recent proliferation of tenders and upcoming regulatory environment streamlining.
In February the Uzbek government issued a new draft law on electric power. If approved, the new regulation will unify and replace all previous regulations and include new articles to further support renewables. And although Uzbekistan has abundant gas, its focus is as strong on renewables development as it is gas-fired. The government is looking to reduce consumption of natural gas for energy production from 16.5 to 12.1 billion cubic meters by 2030 and use gas produced domestica
Toto, I ve a feeling we re not in Kansas anymore
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Toto, I ve a feeling we re not in Kansas anymore
Sorry, it seems as though our servers are down or the page you ve requested is currently unavailable. Please bear with us, while our resident munchkins get everything back on track.
Toto, I ve a feeling we re not in Kansas anymore
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