The provision of a senior secured loan of up to €32 million on a project finance basis for the purpose of constructing and operating a greenfield solar photovoltaic power plant with a capacity of 100 MW in the Samarkand region of Uzbekistan (the Project).
Samarkand SPP is among the first private solar projects in Uzbekistan which will pave the way for a pipeline of renewable projects in the country. It will contribute to climate mitigation by adding 100 MW of solar generation capacity to the national energy system and will assist the country in low-carbon transition, reducing its current high reliance on thermal power generation.
ETI score: 60
The expected transition impact of the Project is twofold:
- Competetive: The Uzbek power sector currently has no private sector participation, and the Project is expected to be one of the first two privately owned power sector projects in Uzbekistan and will introduce a new international power sector sponsor to the country. The successful implementation of the Project would set an example for further private sector participation.
- Green: The Project will introduce 100 MW of solar generation capacity in the Uzbek power system coming in line with the Bank's Green Economy Transition approach (GET).
TO BE DEFINED
Tutly LLC is a special purpose vehicle incorporated in Uzbekistan for the purpose of developing, constructing and operating the Project. The Borrower is 100 per cent owned by Total Eren SA.
Total Eren S.A. is an independent global renewable energy operator active in the development and construction management of renewable energy projects with the main focus on onshore wind and ground-mounted solar PV technologies.
EBRD Finance Summary
Total Project Cost
Environmental and Social Summary
Categorized B under the 2014 ESP. Initial available information suggests that site is not located in a sensitive area and major E&S impacts are expected to be linked to land use, labour and safety. An Environmental and Social Due Diligence (ESDD) is being undertaken by an independent consultant and includes a review of the SPP, associated facilities, biodiversity review, land acquisition and construction related labour and safety issues. Client's E&S management systems and capacity required to deliver the Project in line with the EBRD ESP are also be assessed. PSD will be updated upon completion of ESDD
Technical Cooperation and Grant Financing
Company Contact Information
+33 1 58 97 26 64
PSD last updated
14 Aug 2020
Further information regarding the EBRD’s approach to measuring transition impact is available here.
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