The Energy Storage Report 2024

Now available to download, covering deployments, technology, policy and finance in the energy storage market

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

June 18, 2024
Aaron Philipp Gerdemann explores some of the grid-forming technologies emerging as alternatives to traditional solutions for safeguarding the grid.
June 14, 2024
System integrator Stem Inc and developer Prometheus Power have deployed the first of three co-located BESS projects in Arizona for utilities in the AEPCO co-operative.
June 13, 2024
Developer Ethical Power has received planning consent for a 65MW solar-plus-storage project near Christchurch, New Zealand.
June 12, 2024
Norway-headquartered renewable energy company Scatec will add 28.6MW of solar PV and 19.2MWh of battery energy storage systems (BESS) to projects in Cameroon, via a local subsidiary.
Premium
June 12, 2024
We hear from consultancy AFRY about how energy storage can reduce market risks for CfD-winning projects in the UK, now and in future, as Ørsted launches a BESS at a major wind farm project with a CfD.

Most Popular

Email Newsletter