The World Bank is financing a solar and storage project in Masdar Uzbekistan

Nur Bukhara Solar has already signed a 25-year power purchase agreement (PPA) to sell electricity from power plants of Uzbekistan’s state-owned power grid and has committed to managing the BESS component for the next ten years. The company will implement the project in the Bukhara region in southern Uzbekistan, near the border with Turkmenistan, but did not provide a schedule for the construction and launch of the project.

Project financing includes $53 million in loans from the World Bank’s International Finance Corporation (IFC) and $106 million in loans from the Asian Development Bank (ADB), the Netherlands Enterprise Development Bank and the Japan International Cooperation Agency.

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