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Tuesday 15 January 2019

Up to $240 mln EBRD Loan to Uzbekenergo

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LONDON (EBRD press service) — Power supply in south Uzbekistan will be significantly improved thanks to the creation of additional generation capacity at the existing Talimarjan power plant (TPP) with the help of a sovereign loan of up to $240 mln provided by the EBRD to JSC Uzbekenergo. The project will be the largest EBRD investment in Uzbekistan to date.

The funding will allow the state-owned vertically integrated power utility responsible for the majority of the country’s electricity generation, transmission and distribution to finance the installation of at least 900 MW combined cycle gas turbines (CCGT) and related infrastructure. The project will be co-financed with the Asian Development Bank (ADB) and the Uzbek Fund for Reconstruction and Development (UFRD).

The investment will address a major issue for the region, namely the provision of uninterrupted and sustainable power supply, which will support economic growth and improve the wellbeing of the population.

The new project will help improve the efficiency and reliability of the power supply in Uzbekistan and contribute to the government’s objective to create new modern power generation capacities across the country. This is particularly important for Uzbekistan, the most populated state in Central Asia. Currently, energy losses of up to 20% are experienced due to unreliable power supply and obsolete facilities across the country.

The new high-efficiency CCGT design will help reduce carbon intensity to around 350 kg CO2/MWh, which is approximately half the current average across the power sector in Uzbekistan. The project will enable the significant reduction of the carbon footprint of the national power sector.

To date, the EBRD has invested €1.3 bln through 70 projects in the economy of Uzbekistan.

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