Will the World Bank support a solar photovoltaic plant in Uzbekistan?
Image for representation purposes only. The World Bank on Tuesday (May 21) announced that it will support a 250-megawatt (MW) solar photovoltaic plant with a 63-MW battery energy storage system (BESS) in Uzbekistan -- Central Asia's first renewable energy facility with a utility-scale battery storage component.
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).
How will Uzbekistan improve its energy security?
“This project will enhance Uzbekistan’s energy security through the use of innovative solutions and technologies,” noted Marco Mantovanelli, World Bank Country Manager for Uzbekistan.
How does the World Bank help Uzbekistan?
These efforts support the country's clean energy transition and decarbonization, as well as its economic growth. In this context, the World Bank Group is helping Uzbekistan develop 2,000 MW of solar and 500 MW of wind energy by attracting private sector investments.
Who will sell electricity to in Uzbekistan?
The project company is committed to selling electricity to the state-owned National Electric Grid of Uzbekistan JSC under a 25-year Power Purchase Agreement for the project, including a 10-year operating term for the BESS component, signed by these two entities.
Who owns Nur Bukhara solar power plant & battery energy storage?
The Nur Bukhara greenfield solar power plant and battery energy storage (BESS) will be implemented through Nur Bukhara Solar PV LLC FE owned by Masdar. The project company will be responsible for developing, financing, building, owning, operating, and maintaining the solar plant and BESS.
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