The EBRD and EU back Voltalia's inaugural project in Uzbekistan.

The European Bank for Reconstruction and Development (EBRD) is assisting Uzbekistan in reducing its reliance on carbon-intensive thermal energy production and is accelerating the country's transition to a low-carbon economy by providing funding for the construction of a solar power plant in the Khorezm region.

https://uzdaily.uz/ru/ebrr-i-es-podderzhivaiut-pervyi-proekt-voltalia-v-uzbekistane/2024-11-06 08:47:50

The first tranche of the loan, amounting to $7 million (6.5 million euros), will be secured by a guarantee from the European Sustainable Development Fund Plus from the EU. These funds are aimed at supporting the implementation of climate-resilient technologies outside the European Union, in countries where the EBRD operates.

The financing will enable Sarimay Solar to construct and operate a new solar photovoltaic power plant with a capacity of 100 MW (126 MW DC). It will contribute to Uzbekistan's goal of reaching 25 GW of solar and wind energy generation by 2030.

This is the first renewable energy project that Voltalia has won in Uzbekistan through a competitive process. Once operational, the plant will generate up to 252 GWh of electricity annually and will reduce CO₂ emissions by more than 141,000 tons per year.

Uzbekistan has been the largest recipient of EBRD investments in Central Asia for four consecutive years. To date, the bank has invested approximately 4.9 billion euros in 167 projects across the country, the majority of which are aimed at developing the private sector.