Total Eren secures financing for 100 MW solar project in Uzbekistan

Total Eren, a leading renewable energy independent power producer (IPP) based in Paris, has secured financing for its 100 MW Tutly solar photovoltaic project located in Uzbekistan. …

The loans totaling EUR 87.4 million are provided by the European Investment Bank (EIB), the European Bank for Reconstruction and Development (EBRD), and Proparco, an affiliate of the French Development Agency (AFD). EIB financed the project through a EUR 43.7 million loan, while EBRD and Proparco respectively contributed with two loans of about EUR 21.8 million each. The electricity generated by Tutly was contracted to the National Electric Networks of Uzbekistan through a 25-year power purchase agreement (PPA). The power plant is expected to start feeding power to the grid at the end of 2021.  Once completed, the power plant is expected to produce 270 GWh per year.

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