AIIB approves $100 million loan for 1.5 GW power plant in Uzbekistan

• 2 years ago (2021-11-10)
• David Flin

Asia 846 Gas 370

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The Asian Infrastructure Investment Bank (AIIB) has approved a $100 million loan to ACWA Power Sirdarya to support the construction of a 1.5 GW CCGT power project in Uzbekistan. The Sirdarya power plant is being developed by ACWA Power at Shirin City in the Sirdarya region. It is expected to require a total investment of $1.2 billion.

The project has a 25-year PPA with the country’s Ministry of Energy to supply electricity to the national grid.

Rajit Nanda, Chief Portfolio Management Officer for ACWA Power, said: “This project is yet another significant example of our commitment to supporting governments around the world in delivering on their ambitious decarbonisation efforts and energy transition journey.”

In addition, the European Bank for Reconstruction and Development (EBRD), the OPEC Fund for International Development , and Deutsche Investitions Und Entwicklungsgesellschaft (DEG) are also supporting the project.