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Supporting renewable energies in Uzbekistan

Project

Climate
solar plant proparco uzbekistan
DR
Signature date
Location
Uzbekistan
Financing tool
Loan
Financing amount (Euro)
21849491
Financing details
EUR 21,849,491 loan
Customer
TUTLY SOLAR
Type of customer
Company
Country of headquarters
Uzbekistan
Project number
PUZ1001
Environmental and social ranking
B+
Climate co-benefits
Project with climate co-benefits
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This information is given at the time of signature, without prejudice to any developments in the operation/project.

Proparco, EBRD and EIB are financing one of the first private sector renewable energy projects in the country: the construction and commissioning of a 100 MWac photovoltaic solar power plant in the city of Samarkand.

Client presentation

The project promoter, Tutly Solar LLC, is wholly owned by Total Eren, one of the main Independent Power Producers (IPPs) for renewable energies (mainly solar and wind energy). It is based in Paris and operates all over the world.

Project description

The project comprises a EUR 43.7m loan from EIB and two loans for about EUR 21.8m from Proparco and EIB. It involves the construction and commissioning of a 100 MWac photovoltaic solar power plant near the city of Samarkand. 

Project impact

The project should have the following impacts: 

  • The additional 239 GWh of power generation a year will improve access to electricity for some 43,000 inhabitants;
  • The photovoltaic solar power plant will reduce greenhouse gas emissions by some 110,000 tCO2 eq. per year; 
  • The power plant will support 2,450 local jobs over the next 5 years;
  • Some EUR 7.77m of private financing have been mobilized by this operation. 

The project should thereby contribute to SDGs 7 (Affordable and clean energy), 8 (Decent work and economic growth), 9 (Industry, innovation and infrastructure) and 13 (Climate action).