TASHKENT, Uzbekistan, May 21. The Asian Development Bank (ADB) and Masdar have signed an agreement for a $46.5 million loan to construct the Nur Bukhara solar power plant with a battery energy storage system in Uzbekistan's Bukhara region, Trend reports.
According to the ADB, the financing package includes $26.5 million from the ADB's ordinary capital resources and $20 million from Leading Asia’s Private Infrastructure Fund, managed by the ADB. Additionally, ADB mobilized $26.5 million from the Japan International Cooperation Agency. Parallel lenders include the International Finance Corporation, the Canada-IFC Blended Climate Finance Program, and the Dutch Entrepreneurial Development Bank.
The Nur Bukhara facility will generate 250 megawatts and store 126 megawatt-hours of energy. The project also includes building a 20-kilovolt substation and a 3.1-kilometer transmission line to connect to the grid.
It was noted that the plant will use advanced bifacial solar photovoltaic modules with single-axis tracking to increase energy output and lower the cost per kilowatt-hour. It is expected to produce 555 gigawatt-hours of clean energy annually, supplying power to 55,000 households.
The Asian Development Bank (ADB) was founded in 1966 and has 68 member countries, 49 of which are in the region.