Uzbekistan's First Green Hydrogen Project Secures Funding with International Partners
Key Ideas
- Uzbekistan, in partnership with ACWA Power and EBRD, is embarking on its first green hydrogen project in the Tashkent region.
- The project involves establishing hydrogen production through electrolyzers and wind turbines, with a capacity of 20 MW and 52 MW respectively.
- EBRD is providing a financial package of US$65 million, including a senior loan and concessional financing to support the project.
- The investment agreement for the US$88 million project was signed during the EBRD Board of Governors meeting in Samarkand, showcasing international support for green initiatives.
A significant milestone has been reached in Uzbekistan with the signing of loan and guarantee agreements between Uzkimyosanoat, EBRD, and ACWA Power UKS Green H2 for the development of a green hydrogen production project. This initiative, the first of its kind in the CIS and Central Asia, aims to set up hydrogen production facilities in the Tashkent region through a collaboration between Uzkimyosanoat and ACWA Power. The project will involve the installation of electrolyzers and wind turbines with respective capacities of 20 MW and 52 MW, highlighting the commitment to renewable energy sources. The financial support from EBRD amounts to US$65 million, comprising a senior loan and concessional financing, with additional support from Canada through the HIPCA Fund. The signing of the US$88 million investment agreement at the EBRD's annual meeting in Samarkand underlines the international backing for green initiatives and sustainable development in Uzbekistan.