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The OPEC Fund for International Development (OPEC Fund) has signed two loan agreements worth $20 million with Saudi utility project developer Acwa Power to develop two wind power plants in Uzbekistan.
The funds will be used to support the construction and operation of the 500 MW Dzhankeldy wind farm and the 500 MW Bash wind farm in the country’s Bukhara region, it said.
The new facilities will help boost the country’s renewable energy generation capacity while reducing greenhouse gas emissions and diversifying its energy mix, it said.
The loan agreement for the Dzhankeldy Wind Farm will support the development of the plant’s infrastructure, including its construction, operation and maintenance, as well as the development of 128 kilometers of transmission infrastructure.
The plant is expected to generate 1,550 GWh of electricity per year, according to the OPEC foundation. The Bash wind farm, on the other hand, will generate more than 1,650 GWh of electricity per year and will include the construction and installation of 160 kilometers of transmission infrastructure.
The two plants are expected to save 1.8 billion tonnes of carbon dioxide emissions, it added.
Dr Abdulhamid Al Khalifa, Director General of the OPEC Fund, said: “Increasing private sector participation is key to supporting Uzbekistan’s ambitious energy transition. The partners collaborate on energy sector projects that will boost the share of renewable energy in energy production and provide reliable and affordable clean energy.”
He noted that financing for both projects was provided through a consortium of international lenders, with the European Bank for Reconstruction and Development (EBRD) acting as the technology bank and Standard Chartered serving as the documentation bank.
The consortium also includes French development finance institution Proparco, German development bank Deutsche Investitions- und Entwicklungsgesellschaft (DEG), Industrial and Commercial Bank of China and the Asian Development Bank (ADB), he added.trade arab news agency
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