ACWA Power has applied for financing from the European Bank of Reconstruction and Development (EBRD) for two solar-storage projects in Uzbekistan.
The developer has applied for a senior secured loan of up to $70m to finance the development, design, construction and operation of a 500MW solar plant and 501MWh battery energy storage system (BESS) located in the Samarkand region in Uzbekistan.
ACWA Power is also seeking a senior secured loan of up to $75m to finance the development, design, construction and operation of another 500MW solar plant in the Samarkand region and a 501MWh BESS located in the Bukhara region in Uzbekistan.
The Sazagan 1 and 2 solar and BESS projects will produce clean energy also help to mitigate the intermittency of renewables.
