From pv journal ESS News website

Saudi-listed ACWA Power has introduced the completion of dry monetary shut for the $533 million Tashkent Riverside venture in Uzbekistan, close to the capital metropolis of Tashkent.

The greenfield improvement will embrace a 200 MW photo voltaic plant and a 500 MWh BESS that can serve to stabilize the Uzbek grid. According to the venture promoters, that is the biggest BESS in Central Asia.

The financing paperwork have been signed by six lenders together with the European Bank for Reconstruction and Development (EBRD), Islamic Development Bank, DEG, Proparco, Standard Chartered, and KfW-IPEX Bank.

The whole debt from the signing stands at $386 million, which covers greater than two-thirds of the overall price of the venture.

The venture will play a significant function in attaining Uzbekistan’s bold targets of transitioning to a low-carbon financial system in addition to diversifying its vitality sources. By 2030, Uzbekistan goals to put in 25 GW of renewables and generate 40% of its electrical energy from renewables.

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