Uzbekistan’s state-owned electricity grid has secured a 25-year power purchase agreement (PPA) with Nur Bukhara Solar to supply electricity. In addition, the company has committed to managing the battery energy storage system (BESS) component for the next ten years. The project will be located in the Bukhara region in southern Uzbekistan, near the Turkmenistan border.
The financing for the project includes a US$53 million loan from the World Bank’s International Finance Corporation (IFC) and loans totaling US$106 million from the Asian Development Bank (ADB), Dutch Entrepreneurial Development Bank, and the Japan International Cooperation Agency.
While a specific timeline for the construction and commissioning of the project has not been provided, it is clear that this renewable energy project will play a significant role in meeting Uzbekistan’s energy needs and reducing its reliance on fossil fuels.