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ACWA Power secures $240 million IFC loan for Uzbekistan’s RE projects

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ACWA Power has obtained a $240 million Islamic Equity Bridge Loan (EBL) from the International Finance Corporation (IFC) to support renewable energy initiatives in Uzbekistan.  The financing will facilitate the construction and operation of two projects: a 1 GW solar photovoltaic plant and a 668 MW battery energy storage system (BESS), along with approximately 500 km of high-voltage transmission lines.  These projects aim to reduce Uzbekistan’s greenhouse gas emissions by an estimated 1.3 million tonnes…

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ADB grants USD 15 million for Tajikistan’s power grid

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The Asian Development Bank (ADB) has approved an additional USD 15 million grant to aid Tajikistan’s efforts in reconnecting its power grid with the Central Asian Power System (CAPS) and enhancing interconnections with Uzbekistan.  This follows the signing of a power trade agreement aimed at restarting electricity trade between the two countries, marking progress toward a renewed regional energy network. The ADB-supported project includes the construction of a new 22 km, 500 kV transmission line…