Add us as your preferred source on Google to see more of our content in Search.
Add to Preferred SourcesThe Asian Development Bank and ACWA Power have signed a $51 million financing package to construct Central Asia’s first wind power facility with utility-scale battery storage in Uzbekistan. The Nukus 2 Wind and Battery Energy Storage project will be built in the Qoraozak district of Karakalpakstan, according to a press release from ADB. ACWA Power Beruniy Wind FE LLC will implement the project.
The financing combines resources from multiple institutions to support Uzbekistan’s renewable energy transition. ADB contributes $25.4 million from ordinary capital resources and another $25.4 million from the Leading Asia’s Private Infrastructure Fund 2. The Asian Infrastructure Investment Bank, Dutch Entrepreneurial Development Bank, Standard Chartered Bank, and Saudi EXIM serve as parallel lenders.
The facility will feature a 200-megawatt wind power plant paired with a 100-megawatt-hour battery storage system. Construction includes transmission infrastructure to connect the facility to the national grid. The project is expected to generate 727,980 MWh of clean electricity annually while reducing carbon emissions by 406,170 tons per year. Over 200 jobs will be created during construction and operation phases.
The project advances Uzbekistan’s Strategy 2030 goals of adding 25 gigawatts of renewable capacity and reducing greenhouse gas emissions by 35% per unit of GDP. ADB Country Director Kanokpan Lao-Araya noted that combining wind energy with battery storage will enhance grid stability and support the country’s target of 54% renewable electricity by 2030. The project also benefits from a $7.5 million ADB credit guarantee that helped secure competitive tariffs.