Uzkimyosanoat and ACWA Power, in collaboration with the European Bank for Reconstruction and Development (EBRD), have signed a groundbreaking agreement to propel a green hydrogen project in Uzbekistan. This initiative represents the first-of-its-kind endeavor in the CIS and Central Asia, signaling a significant step towards sustainable energy practices in the region. The project, set to unfold in the Tashkent region, will focus on the establishment of green hydrogen production facilities. This includes the installation of a 20 MW electrolyzer facility and a 52 MW wind power plant, aimed at providing renewable energy sources for hydrogen production. The recent signing ceremony, attended by key stakeholders from Uzkimyosanoat, ACWA Power, and EBRD, solidified the commitment to advancing this innovative project. Under the agreement, the management of the project will be overseen by the joint venture ACWA-UKS GH2, with ACWA Power holding the majority stake of 80% and Uzkimyosanoat owning 20%. EBRD's substantial financial package of $65mn to ACWA Power UKS Green H2 will play a pivotal role in driving the project's various phases from development to operation. The financial support from EBRD includes a senior loan of $55mn and concessional financing of up to $10mn from Canada’s High Impact Partnership on Climate Action (HIPCA) Fund. Additionally, EBRD will provide a bridge loan for equity amounting to $5.5mn, further reinforcing the commitment towards sustainable and environmentally friendly energy practices. This partnership signifies a significant stride in the realm of green hydrogen production, showcasing the importance of international cooperation and investment in renewable energy ventures. The project not only underscores Uzbekistan's commitment to sustainable development but also paves the way for future green initiatives in the region.