The new station will have an annual output of 664 GWh of electricity, and the introduction of the BESS energy storage system will increase the reliability and flexibility of the power system.

The European Bank for Reconstruction and Development (EBRD) will provide up to $195.5 million for the construction and operation of a new 300 MW solar photovoltaic plant and 75 MWh battery storage facility in the Kashkadarya region.

The financing package, consisting of an EBRD loan of up to $141.6 million and a guarantee of up to $25 million, will be provided to Nur Kashkadarya Solar PV FE LLC, a special purpose vehicle wholly owned by Masdar, a global renewable and clean energy company.

The EBRD will also mobilise concessional financing of up to US$20 million from the Government of Canada and US$5 million from the Government of Finland under the High Impact Partnership on Climate Action (HIPCA) Special Fund.

In addition, the project will receive concessional financing of up to $3.9 million from the Japan-EBRD Cooperation Fund and the EBRD itself. The project is expected to be co-financed by the Asian Development Bank.

The project will contribute to the government’s EBRD-supported renewable energy plan, which aims to create 25 GW of solar and wind power capacity by 2030.

Once completed, the solar power plant will produce 664 GWh of electricity per year, enough to power 60,000 homes and reduce annual CO2 emissions by 400,000 tonnes.

The project is expected to improve the stability of the national power grid by implementing a 75 MW/75 MWh battery energy storage system (BESS). BESS helps improve the reliability and flexibility of the power grid by providing additional power capacity during periods of peak demand.

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