Tashkent [Uzbekistan], December 14: The European Bank for Reconstruction and Development (EBRD) has arranged two syndicated loans worth 520 million U.S. dollars to help Uzbekistan construct and put into operation two wind power plants, the EBRD said on Tuesday.
The two projects, with a total installed capacity of 1 GW, will also be co-financed by the German development finance institution Deutsche Investitions und Entwicklungsgesellschaft, the French Development Agency Proparco, Standard Chartered Bank and other commercial banks, the EBRD said in a statement.
The Bash Wind and Dzhankeldy Wind projects, located in the Bukhara region, are special project companies owned by ACWA Power -- an international developer, investor, co-owner and operator of a portfolio of power generation and desalinated water production plants, according to the EBRD.
The EBRD said that the financing is the bank's largest renewable energy project to date across its regions and will help Uzbekistan to reach its clean energy target of 12 GW of solar and wind capacity by 2030.
Source: Xinhua
