The European Bank for Reconstruction and Development (EBRD) is set to finance Central Asia's first renewable hydrogen production project in Uzbekistan. The project involves the installation of a 20 MW electrolyzer and the construction of a 52 MW wind farm. ACWA Power UKS Green H2, a company jointly owned by ACWA Power and Uzkimyosanoat, will develop, design, construct, and operate the facility. The EBRD is providing a financing package of $65 million, with $55 million as a senior loan and $10 million in concessional financing from Canada through the High Impact Partnership on Climate Change Special Fund (HIPCA). Additionally, the EBRD plans to offer equity bridge loans to support the project. The initiative aims to replace 'grey' hydrogen, commonly derived from natural gas and used in ammonia fertilizer production in Uzbekistan, with renewable hydrogen. By producing 3,000 tons of hydrogen annually, the project is expected to reduce CO2 emissions by 22,000 tons, contributing significantly to decarbonization efforts. This endeavor is supported by the Japan-EBRD Cooperation Fund. The EBRD highlighted Uzbekistan as a key recipient of its financing in Central Asia, having received around €5 billion under 164 projects, primarily supporting private entrepreneurship. The partnership aligns with Uzbekistan's transition to a green economy, with initiatives focusing on reforms, private sector development, competitiveness, and investment in economic capital. The project signifies international cooperation and financial support for sustainable energy projects in Uzbekistan, paving the way for a cleaner and greener future.