World Bank, IFC fund Masdar’s Uzbekistan solar-plus-storage project with 63MW BESS

LinkedIn
Twitter
Reddit
Facebook
Email

The World Bank and other financial institutions will provide a US$159 million package for a 250MW solar PV and 63MW battery energy storage system (BESS) project from UAE state-owned renewable energy developer Masdar in Uzbekistan.

The project, which is central Asia’s first renewable project to be built with a co-located battery energy storage system (BESS), will include a storage capacity of 63MW. It will be built by Nur Bukhara Solar PV LLC FE, a new project company owned and controlled by Masdar, which won a bid to build the project in December 2022 by offering to sell electricity generated at the project at US$0.03044/kWh.

This article requires Premium SubscriptionBasic (FREE) Subscription

Enjoy 12 months of exclusive analysis

  • Regular insight and analysis of the industry’s biggest developments
  • In-depth interviews with the industry’s leading figures
  • Annual digital subscription to the PV Tech Power journal
  • Discounts on Solar Media’s portfolio of events, in-person and virtual

Or continue reading this article for free

Nur Bukhara Solar has already signed a 25-year power purchase agreement (PPA) to sell the plant’s electricity to Uzbekistan’s state-owned electricity grid, and has committed to managing the BESS component for the next ten years. The company will build the project in the Bukhara region in southern Uzbekistan, on the Turkmenistan border, but has not provided a timeline for the project’s construction and commissioning.

The project’s financing includes loans of US$53 million, provided by the World Bank’s International Finance Corporation (IFC), and loans worth US$106 million from the Asian Development Bank (ADB), Dutch Entrepreneurial Development Bank and the Japan International Cooperation Agency.

To see the full original version of this article go to our sister site PV Tech.

Read Next

July 18, 2025
Acciona Energía has submitted plans for a wind-plus-storage site featuring up to 800MWh of BESS to Australia’s EPBC Act.
July 17, 2025
D.E. Shaw Renewable Investments (DESRI) has started construction at a 150MW solar-plus-storage project in the US state of New Mexico, the BESS for which will be manufactured in the US by LG Energy Solution.
July 17, 2025
Contemporary Amperex Technology Ltd (CATL) has signed a framework supply agreement for a project to export renewable energy from Indonesia to Singapore.
Premium
July 16, 2025
California community choice aggregator Ava Community Energy’s new BESS offtake agreements with EDP Renewables incorporate measures to share policy risks.
July 16, 2025
Two US-headquartered solar and sustainability-focused investors have launched GSSG Chikuden, a utility-scale battery storage developer, in Japan.

Most Popular

Email Newsletter