Regional Director: IFC to contribute to modernization of Uzbekistan’s energy sector
BAKU, Azerbaijan, Oct. 21
By Fakhri Vakilov - Trend:
Public-private partnership (PPP) for the construction of a combined-cycle plant with a capacity of 1,300 megawatts in Uzbekistan’s Syrdarya region is designed to help modernize country’s ageing power infrastructure and provide both residents and businesses with a steady supply of electricity, Wiebke Schloemer, Regional Director, Europe and Central Asia, International Financial Corporation (IFC) told Trend in an interview.
“As the lead transaction advisor, IFC will carry out comprehensive technical, environmental and social (E&S), legal and financial serviced due diligence of the project, provide advice to the government in relation to the transaction structuring, risk allocation, preparation of relevant documents, and support the government in implementing a competitive tender process for selecting the private partner,” Schloemer said.
Schloemer noted that IFC will work on this project in close cooperation with the World Bank, which is assisting the government with the implementation of a broad range of reforms in the power sector.
“IFC, the World Bank, and the government will work to help ensure the project is in line with the reforms and ongoing transformation of Uzbekistan’s power sector. That is key for Uzbekistan, which will see its energy demand grow by up to 50 percent by 2030, according to World Bank Group estimates,” Schloemer stated.
Schloemer added that the project is part of a broader effort by IFC to support private sector investments in Uzbekistan’s energy sector.
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