ACWA Power, a prominent water desalination company with a focus on energy transition and green hydrogen, has successfully completed the dry financial close for the Tashkent Riverside project in Uzbekistan. This project, valued at USD 533 million, features a 200MW solar photovoltaic (PV) plant alongside the largest battery energy storage system in Central Asia. Financing agreements were signed with six lenders, including prominent institutions like EBRD, Islamic Development Bank, DEG, and Standard Chartered. The project aligns with Uzbekistan's ambitious goal of having 25GW of renewables by 2030 and generating 40% of its electricity from renewable sources, aiming to contribute to a low-carbon future. The battery energy storage system (BESS) integrated into the project will play a crucial role in stabilizing the Uzbek grid, ensuring a consistent electricity supply by managing the intermittency of renewable energy sources. Nandita Parshad of EBRD highlighted the significance of this project in Uzbekistan's renewable energy strategy, emphasizing its potential to power 170,000 households and store energy equivalent to 8000 electric vehicles. ACWA Power's CEO, Marco Arcelli, expressed confidence in the project's success and the company's commitment to supporting Uzbekistan's energy transition. The Tashkent Riverside project stands as a testament to the partnership between private sector leaders and financial institutions in driving sustainable infrastructure development and decarbonization efforts in Uzbekistan.