Islamic Development Bank finances solar, battery projects in Uzbekistan

The historic renewable energy venture, sponsored by Saudi firm Aqua Power, marks growing private sector participation in solar

Staff Writer, Mubasher

July 11, 2024

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The Islamic Development Bank (IsDB) is providing financing for 200 megawatts (MW) solar farm and 500 MW battery storage projects in Uzbekistan's Tashkent region.

The historic renewable energy venture, sponsored by Saudi firm Aqua Power, marks growing private sector participation in solar to meet demand and support grid stability and energy efficiency in the Central Asian nation, according to the Saudi Press Agency (SPA).

The IsDB is jointly financing the deal with the European Bank for Reconstruction and Development (EBRD).

The move comes as the bank starts construction and operation of the landmark renewable energy project aimed at boosting solar power generation in Uzbekistan.

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