Financing for Uzbek solar power plant construction approved
BAKU, Azerbaijan, Sept. 24
By Klavdiya Romakayeva - Trend:
Financing for the construction of a solar power plant in the Navoi region in Uzbekistan has been approved, Trend reports with reference to the Ministry of Energy.
The Boards of Executive Directors of the World Bank and the International Finance Corporation (IFC) approved funding for the construction of a photovoltaic (solar) station in the Navoi region.
The project is being implemented under the Scaling Solar Program, which aims to attract private investment in solar energy.
With the support of the IFC, several tenders will be held to select investors for the implementation of solar plant projects with a total capacity of 1GW on the principles of Build - Own - Operate - Transfer.
Earlier it was reported that the winner of the first such tender in October 2019 was Masdar Clean Energy developers of renewable energy in Saudi Arabia, which is to build a 100 MW PVP.
Currently, a tender is underway to select investors for the construction of two photoelectric power plants of 200 MW each in the Samarkand and Jizzakh regions.
The project for the construction of photoelectric power plants by Masdar in the Navoi region is financed through a guarantee of the International Bank for Reconstruction and Development (IBRD), amounting to $5.1 million, and IFC borrowed funds up to $41 million.
The project will also be the first World Bank guarantee operation in Uzbekistan. The debt-to-equity ratio in this project should be 75 to 25, in connection with which Masdar continues negotiations to attract the rest of the loan funds.
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