Will Uzbekistan fund a 250-megawatt solar photovoltaic plant?

TASHKENT, May 21, 2024 — The World Bank Group, Abu Dhabi Future Energy Company PJSC (Masdar), and the Government of Uzbekistan have signed a financial package to fund a 250-megawatt (MW) solar photovoltaic plant with a 63-MW battery energy storage system (BESS).

Why is battery storage important in Uzbekistan?

Battery storage is being introduced to stabilize the grid and integrate renewable energy. The planned battery systems in Samarkand will store excess solar power and release it when demand is high. Uzbekistan continues to attract foreign investment in renewable energy.

Can Uzbekistan generate 25% of its electricity from renewables?

The country has set a target to generate 25% of its electricity from renewables by 2030. Several projects are underway, including the 1,500 MW Nur Navoi Solar Power Project and the 500 MW Jizzakh Wind Power Plant. Other renewable energy projects in Uzbekistan include the 220 MW Sherabad Solar Plant and the 457 MW Bash Solar Plant.

Will EBRD grant $145 million to Uzbekistan's solar power projects?

The European Bank for Reconstruction and Development (EBRD) is reviewing a proposal to provide $145 million in loans for two large-scale solar power projects in Uzbekistan. These projects, developed by ACWA Power, will include a total of 1,000 megawatts (MW) of solar energy capacity along with 1,000 megawatt-hours (MWh) of battery storage.

Why is Uzbekistan developing solar power?

The planned battery systems in Samarkand will store excess solar power and release it when demand is high. Uzbekistan continues to attract foreign investment in renewable energy. The country has been working with international banks and private companies to develop solar, wind, and hydroelectric projects.

How can Uzbekistan meet its energy needs?

Uzbekistan is capable of meeting its energy needs from its own energy resources. Uzbekistan owns a significant part of the installed capacity of the united power system of Central Asia.