Proparco, alongside EBRD, KfW, DEG, IsDB and Standard Chartered Bank, participates in the financing of the Tashkent project, a 200MW solar plant and a large-scale 500MWh Battery Energy Storage (BESS), developed by ACWA Power in Uzbekistan, by providing USD 50m. This is the fifth renewable energy project financed by Proparco in the country since 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 organised by the European investment Bank (EIB), the European Bank for Reconstruction and Development (EBRD) and Proparco. The funds will be used to construct and put into operation a 100 MWac (equivalent to 131.3 MWp) photovoltaic solar power plant near the city of Samarkand.

The operation consists of a USD 30 million multi-currency senior credit line (available in USD or in Uzbek soum - UZS) granted by Proparco to support Ipak Yuli Bank in strengthening its credit offer dedicated to MSMEs.

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.

Proparco provides Ipak Yuli with a senior debt up to USD 30 million to support its MSME financing strategy, particularly in disadvantaged regions, and increase women’s access to the financial products offered by the bank.

Through a US$15 million loan to Hamkorbank, Proparco supports the Uzbek private sector, in particular its small and medium-sized enterprises.

Proparco, alongside several development finance institutions and commercial lenders including EBRD and DEG, is participating in the financing of the Bash and Dzhankeldy projects, two onshore wind farms developed by ACWA Power in Uzbekistan, by providing USD 80m (USD 40m per project). Together, the two wind farms represent 1GW of new installed capacity and will avoid greenhouse gas emissions estimated at 1 820 000 tCO2e/year.