ADB and ACWA to finance new phase of Uzbekistan"s wind energy development

The Asian Development Bank has signed a $116 million financing package with ACWA Power to support the development, construction, and operation of a 300 MW wind power plant in Uzbekistan's Bukhara region.

According to Report's correspondent from Samarkand, who cites the announcement made during the 59th Annual Meeting of the ADB Board of Governors, the project is aimed at accelerating the country's transition to renewable energy sources.

The financing package includes $50 million loan from ADB's ordinary capital resources; $41 million mobilized from commercial lenders, with ADB acting as mandated lead arranger and bookrunner; $25 million in financing from the Leading Asia's Private Infrastructure Fund 2 (LEAP 2).

The power plant, named Bash 2, will build on the Bash project, which received ADB co-financing in 2023.

The project provides for the installation of 39 wind turbines with a capacity of up to 8 MW each, as well as the construction of a new 35/500 kV substation.