Uzbekistan set to raise first EBRD corporate loan to finance energy project

The Uzbek government is set to raise its first corporate loan from the European Bank for Reconstruction and Development (EBRD). It will be used to implement an energy project. Funds will be channelled towards the construction of a transmission line for two wind farms.

An agreement on the allocation of the first corporate loan in the history of the country without a state guarantee was signed during the visit of an EBRD delegation to Uzbekistan.

The letter of mandate for the deal was inked with the National Electric Networks of Uzbekistan, part of the structure of the Ministry of Energy.

Financing is to be allocated for the implementation of an investment project for the construction of a 500 kV Sarymai-Zhankeldi high-voltage power transmission line. This transmission line will provide the output of future wind farms in Bukhara and Navoi regions.

The projects for the construction of the wind farms are to be implemented by ACWA Power (Saudi Arabia) on a public-private partnership basis.