(MENAFN- Trend News Agency) BAKU, Azerbaijan, March 10. The European Bank
for Reconstruction and Development (EBRD) arranged two syndicated
loans collectively worth $520 million to help construct and put
into operation two wind power plants in Uzbekistan, Zsuzsanna
Hargitai, EBRD Managing Director for Central Asia, told trend .
The project with the total installed capacity of 1 GW will be
carried out in the country's Bukhara region, she said.
According to the managing director, this financing is the EBRD's
largest renewable energy project to date across all countries,
where the Bank invests.
'A financing package of $74 million, organized by the Bank, will
help develop, construct and put into operation a 500 MW greenfield
wind power plant in the Navoi region of Uzbekistan. This was the
first project in Central Asia to use the IdentiFlight [bird
detection system] able to detect and monitor species at risk of
collision and trigger an automatic curtailment of selected
turbines,' she added.
Moreover, as Hargitai noted, EBRD together with the Ministry of
Energy of Uzbekistan has developed low-carbon development pathway
for the electricity sector of Uzbekistan, which aims to decarbonize
the sector by 2050.
Meanwhile, the current loan portfolio of the EBRD projects in
Uzbekistan is estimated at 2.2 billion euros. Bank's loan portfolio
is calculated for the implementation of 69 projects. The major part
of the investment portfolio (72 percent or 1.6 billion euros)
focuses on sustainable infrastructure, 19 percent (428 million
euros) – on financial institutions, and 9 percent (199 million
euros) – on industry, commerce, and agribusiness.
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