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A subsidiary of Total Eren is to receive almost €88m in funding for a 100MW solar farm in Uzbekistan from the European Bank for Reconstruction and Development (EBRD), the European Investment Bank (EIB) and Proparco, a subsidiary of Agence Francaise de Developpement.
The €87.7m finance is for Tutly Solar and will help fund the project near the city of Samarkand.
It will consist of an EIB loan of €43.7m and two loans of approximately €21.8m each from the EBRD and Proparco.
The project will help reduce annual greenhouse gas emissions by 160,000 tonnes of carbon dioxide equivalent and generate 270 gigawatt-hours of electricity.
Monday, 10 May 2021 The government of Uzbekistan’s plans to develop 8 GW of solar and wind capacity by 2030 have received a major boost following the approval of an €87.4 million financing package jointly organized by, the European Bank for Reconstruction and Development (EBRD), the European investment Bank(EIB) and PROPARCO, a subsidiary of Agence Française de Développement. The funds will be used to construct and put into operation a 100 MW photovoltaic solar power plant near the city of Samarkand. Sebastian Ganso from Pixabay
The package will be provided to project developer Tutly Solar LLC, which is fully owned by Total Eren, a leading France-based independent power producer (IPP) from renewable energy sources (mainly solar and wind), active globally. It will consist of an EIB loan of €43.7 million and two loans of approximately €21.8 million each from the EBRD and PROPARCO.
EBRD, EIB and PROPARCO provide €87.4 million for construction of Total Eren’s solar power plant in Uzbekistan
EBRD, EIB and PROPARCO provide €87.4 million for construction of Total Eren’s solar power plant in Uzbekistan
€87.4 million to support 1
st Total Eren’s project in Uzbekistan
100 MW solar plant to be put into operation near Samarkand
One of the first
private-sector renewable energy projects in the country The government of Uzbekistan’s plans to develop 8 GW of solar and wind capacity by 2030 have received a major boost following the approval of an €87.4 million financing package jointly organised by, the European Bank for Reconstruction and Development (EBRD), the European investment Bank (EIB) and PROPARCO, a subsidiary of Agence Française de Développement. The funds will be used to construct and put into operation a 100 MW photovoltaic solar power plant near the city of Samarkand.
EBRD President sets out strategy In an interview with the Financial Times, EBRD President Odile Renaud-Basso spoke about the Bank’s strategies in its most challenging countries of operations. She stated that the Bank’s focus on private-sector lending helped strengthen civil society against repressive regimes. The Bank, she said, wanted to “help countries move in the right direction.” Green Transformation in Poland Grzegorz Zieliński, EBRD Regional Director Central Europe and Head of Poland, spoke to Poland’s daily Dziennik Gazeta Prawna about the country’s green transformation. He noted that over 60 per cent of the EBRD s financing in Poland is now green-focused. “Renewable energy sources are the most obvious direction, but we need to clarify how to finance energy efficiency in every area of the economy”, he said.