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NUKUS-¨PROPARCO
DR
Proparco, alongside development finance institutions EBRD and DEG, is participating in the financing of the Nukus project, a 100MW onshore wind farm developed by ACWA Power in Uzbekistan, by providing up to USD 25m. This is the fourth renewable energy project Proparco is financing in the country, since 2021.

Electricity production in Uzbekistan is largely generated by thermal power plants, mainly gas-fired, and coal-fired power plants. The electricity sector is the second largest emitting sector of greenhouse gases (GHG) in the country. Diversification of the electricity mix is therefore a major challenge of a low carbon trajectory.

After a first solar PV plant financing in 2021, and two wind farms in 2022 (the Bash and Dzhankeldy projects), Proparco continues to support the Uzbek renewable energy sector, as part of a larger strategic support from the AFD group to the Uzbek energy transition.

The Nukus project will consist in the construction and operation of a 100MW onshore wind power plant, located around 70km southeast of the city of Nukus, in the northwestern region of Karakalpakstan. The sole owner of the project is ACWA Power, a well-known client of Proparco, highly active in Uzbekistan as it has developed several power projects, including Bash and Dzhankeldy.

The wind farm will avoid greenhouse gas emissions estimated at 200,000 tCO2e/year. The project is expected to give a better access to electricity to more than 48,000 peoples.

"The project will significantly contribute to the Government of Uzbekistan's goal of reaching 5 GW of installed wind capacity by 2030. Proparco is very proud, among its Team Europe partners EBRD and DEG, to support the development of wind farms in Uzbekistan, which will play a significant role in the country's energy transition, in a context of growing electricity demand and climate change resilience." said Emmanuelle Riedel Drouin, Global Head of Lending Operations.