AIIB approves loan for construction of TPP in Uzbekistan

Uzbekistan Materials 10 November 2021 15:58 (UTC +04:00)

BAKU, Azerbaijan, Nov 10

By Natavan Rzayeva - Trend:

The Asian Infrastructure Investment Bank (AIIB) has approved a $100 million loan to the Saudi ACWA Power energy company for the construction of a thermal power plant in Uzbekistan, Trend reports referring to press service of the bank.

According to the press service, the loan was allocated for the construction of a thermal power plant with a capacity of 1,500 MW with Combined Cycle Gas Turbines in the Syrdarya region.

"This project is fully consistent with the bank's strategy in the energy sector and will help Uzbekistan to reduce the intensity of carbon dioxide emissions in the energy supply system," said an AIIB representative.

The construction of thermal power plant began in January 2021. It is planned to be finished in three years.

ACWA Power has already raised $747 million to finance this project in March 2021. This amount includes loans from the European Bank for Reconstruction and Development, the OPEC International Development Fund, the German Investment Corporation, the British Standard Chartered Bank, the French Natixis and Societe Generale, and the Chinese Bank of China.