The projects claim to be the largest in the field of wind development in the region
The Asian Development Bank (ADB) and ACWA Power Company (ACWA) signed $174 million worth of loans to develop the Bash wind power and Dzhankeldy wind power plants, both located in the Bukhara region in Uzbekistan, ADB said.
The financing comprises loans amounting to $40.5 million for Bash and $46.5 million for the Dzhankeldy funded through ADB’s ordinary capital resources.
Moreover, ADB will also administer equivalent loans for Bash and Dzhankeldy from the Leading Asia’s Private Infrastructure Fund (LEAP), administered by ADB.
Each power plant consists of 79 wind turbines, for a total of 158 turbines that will generate 3,235 gigawatt-hours and displace nearly 2 million tons of carbon dioxide equivalent a year. Together, Bash and Dzhankeldy will be the largest utility-scale wind power development in the Central West Asia region.
The loans will also fund the construction of 282.5 kilometers of 500-kilovolt, single-circuit overhead transmission to connect to the power grid.
“Uzbekistan is one of the fastest-growing economies in Centrl Asia, and with it comes a growing demand for energy. This brings a unique opportunity to invest in decarbonization and expansion of renewables in the country’s energy mix,” said ADB Director General for Private Sector Operations Suzanne Gaboury. “Bash and Dzhankeldy are landmark greenfield wind power projects which have a significant demonstrative impact of private sector participation across the region’s energy sector.”
ADB has been supporting the implementation of renewable energy projects in Uzbekistan with a capacity of about 2,500 MW since 2019 – after the country opened this sector to private sector participants. The total value of ADB’s latest deal with ACWA is approximately US $ 1.35 billion.
The cost of the project of the Dzhankeldy power plant stated by ACWA Power is US $ 658 million and the Bash power plant project cost US $ 690 million.
For both ACWA Power and JSC “National Electric Networks of Uzbekistan” signed 25-year Power Purchase Agreements (PPA) for the development/construction/operation of onshore wind power plants. ACWA Power will take the lead in the construction, engineering, operation and maintenance of the wind farms.
More details about ACWA Power projects in Uzbekistan: https://www.newscentralasia.net/2022/12/26/saudi-acwa-power-has-bagged-1500-mw-wind-power-project-in-uzbekistan-this-is-5th-power-project-of-acwa-power-in-uzbekistan/
///nCa, 25 April 2023