BAKU, Azerbaijan, September 25. In 2023, the European Bank for Reconstruction and Development (EBRD) has already organized the $205 million financial package for the construction of three greenfield solar power plants with total installed capacity of nearly 900 MW in Uzbekistan, Andi Aranitasi, Head of the EBRD office in Uzbekistan told Trend in an exclusive interview.
"Once commissioned, the three projects are expected to generate up to 2,200 GWh of electricity, providing power to over 1 million homes in Uzbekistan, and reducing annual CO2 emissions by up to 1.2 million tons," he said.
According to Aranitasi, the EBRD, the operations of which became fully aligned with the Paris Agreement, is providing support for Uzbekistan’s green transition.
"Last year we financed major renewable energy projects such as 1 GW wind power plants in the Bukhara region (largest renewable investment for the Bank across all its economies) and a 500 MW greenfield wind power plant in the Navoi region of Uzbekistan," he noted.
The Bank has also financed the construction of a 100 MW wind power plant (WPP) in the republic of Karakalpakstan by providing a loan to a major international developer ACWA Power, Aranitasi said, pointing out that this project is a key milestone for the EBRD’s cooperation in Uzbekistan, since it was tendered as part of the EBRD supported 2 GW wind auction program in the country.
"Uzbekistan is very ambitious in its green energy transition and we are delighted to see that Uzbekistan recently increased its renewable energy generation target from 12 GW all the way up to 25 GW by 2030. The EBRD remains a dedicated partner to Uzbekistan in its renewable energy initiatives and continue to support sustainable economic growth," he concluded.