ADB signs US$17.5 million loan agreement for a 100 MW solar power plant in Uzbekistan

The Asian Development Bank (ADB) and Nur Navoi Solar Foreign Enterprise Limited Liability Company (NNS) have signed loans of US$17.5 million for a 100 MW solar power plant in Uzbekistan. .

It will be the first public-private partnership (PPP) renewable energy project in the country. The financing package for the plant, to be built near Navoi City in central Uzbekistan, includes a loan from ADB and a loan from the Canadian Climate Fund for the Private Sector in Asia II (CFPS II), which will be administered by ADB. NNS will provide its energy output to the National Electric Grid of Uzbekistan under a 25-year power purchase agreement. The ADB loan package includes a concessional finance tranche, funded by CFPS II, to support a lower-than-expected power tariff for the project. The project will significantly help the government in meeting its target of at least 25 per cent renewable energy capacity by 2030.