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Add to Preferred SourcesIFC, a member of the World Bank Group, signed an agreement to advise Uzbekistan on the structure and tender of a public-private partnership (PPP) to develop a 1,300-megawatt gas-fired power plant in the Syrdarya region.
IFC will support the government to design a public-private partnership that will attract qualified private sector investors to develop the project and allocate risk appropriately between the public and private sectors. The government will select an investor for the project through a competitive bidding process that follows best practices. This public-private partnership is designed to help modernize Uzbekistan’s ageing power infrastructure and provide both residents and businesses with a steady supply of electricity. This is key for Uzbekistan, which will see its energy demand grow by up to 50 percent by 2030, according to World Bank Group estimates.
This project is part of a broader effort by IFC to support private sector investments in Uzbekistan’s energy sector.
“Uzbekistan, like many developing countries, has a limited amount of funds that it can spend on much-needed infrastructure projects,” said Wiebke Schloemer, IFC Regional Director for Europe and Central Asia. “By introducing the capital and expertise of the private sector, the country can spur the development of major infrastructure projects to improve the business environment and improve the quality of life for its people.”
Uzbekistan, the most populous country in Central Asia, is currently undergoing an unprecedented economic transformation. IFC is supporting the new government’s reform process through a combination of investments and advisory services in many key areas. IFC currently manages a US$58 million investment portfolio in Uzbekistan with investments mainly in the financial and textile sectors.
Original source: IFC
Published on 01 October2019