EBRD co-finances major renewable energy and battery project in Central Asia
Uzbekistan, Oct. 29 -- The European Bank for Reconstruction and Development (EBRD) is providing a comprehensive financing package of US$ 142 million (€121 million) for two special-purpose vehicles (SPVs) that will develop Uzbekistan's and Central Asia's largest combined solar photovoltaic and battery energy storage project to date.The two SPVs (ACWA Power Sazagan Solar 1 and ACWA Power Sazagan Solar 2) will be majority owned by ACWA Power - an international developer, investor, co-owner and operator of a portfolio of power-generation and desalinated-water-production plants. The SPVs will be co-owned by Sumitomo Corporation, Shikoku Electric Power Company and Chubu Electric Power Company. The investment marks the first foray into renew...
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