World Bank Approves Guarantee For Raising Solar Power Plant In Uzbekistan
Date
12/23/2024 7:14:47 AM
(MENAFN- Trend News Agency)
TASHKENT, Uzbekistan, December 23. The World
Bank has approved a $3.5 million guarantee to support the
construction of a 100 MW solar power plant in Uzbekistan's Khorezm
region, the bank told Trend .
The guarantee will secure payment commitments from the
state-owned National Electric Grid of Uzbekistan for electricity
produced by the new facility.
French Voltalia Company will lead the development of the project
through its subsidiary, Sarimay Foreign Enterprise LLC. The plant,
set to become operational in November 2025, will occupy 177
hectares and generate over 240 GWh of clean energy annually. It is
expected to cut carbon emissions by more than 230,000 tons per year
while providing sustainable electricity to approximately 60,000
households.
This initiative is a key milestone in Uzbekistan's strategy to
expand renewable energy production and accelerate its green economy
transition. Once operational, the solar plant will sell electricity
to the National Electric Grid of Uzbekistan under a 25-year power
purchase agreement, ensuring long-term collaboration between the
two parties.
The World Bank's guarantee played a pivotal role in attracting
$80 million in additional investments for the project. This
includes over $54 million in funding from the European Bank for
Reconstruction and Development (EBRD), which will help bring the
project to life.
Meanwhile, Uzbekistan plans to launch 18 new solar and wind
power plants with a total capacity of 3,400 MW in 2025.
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