TASHKENT, Uzbekistan, June 17. The European Bank for Reconstruction and Development (EBRD) is gearing up to lend a helping hand with a senior secured loan of up to $55.4 million to fuel the construction of an all-in-one renewable hydrogen production facility in Uzbekistan, Trend reports.
According to the bank, the loan will be comprised of a Bash WPP Extension tranche of up to $34.2 million and an electrolyser tranche of up to $21.2 million.
The loan is envisaged to finance the construction of a 20 MW electrolyser fed by a greenfield 52 MW wind power plant to produce around 3,000 tonnes of renewable hydrogen annually. The electrolyser will be located in the Chirchiq, Tashkent region, and the wind power plant will be in the Gijduvon district, Bukhara region. The wind facility will be collocated with the existing 500 MW EBRD-financed Uzbekistan Bash WPP.
The EBRD aims to support a first-of-its-kind renewable hydrogen production project in Uzbekistan and across Central Asia, providing a critical demonstration effect to stimulate further projects; the decarbonisation of Uzbekistan's ammonia sector, and increased renewable energy generation through the financing of the integrated renewable hydrogen production facility.
Meanwhile, the current loan portfolio of EBRD projects in Uzbekistan has totaled 2.4 billion euros as of February 29, 2024.
Specifically, the EBRD's loan portfolio is geared towards the execution of 85 projects.
The majority of the portfolio, 75 percent (1.8 billion euros), focuses on sustainable infrastructure. The remaining 18 percent (437 million euros) is directed toward financial institutions, while industry, commerce, and agribusiness account for 7 percent (182 million euros).