Electricity Support Facility - Uzbekistan JSC TPP

Overview
Project Summary Document
Environmental and Social Documentation
Procurement
Complaints

Overview

The provision of a loan of up to €250 million in favour of the Republic of Uzbekistan, with loan proceeds to be on-lent to JSC Thermal Power Plants (JSC TPP), a wholly state owned power generation company incorporated in Uzbekistan and the Bank's existing client, to finance its operational expenses.

Project ID 54437

Status Passed Final Review, Pending Approval

Location

Uzbekistan

Business Sector

Energy

Notice Type

State

Project timeline

Exploratory
Passed Concept Review
Passed Structure Review
Passed Final Review
Board Approved
Signed
Implementing
Completed

Company Contact Information

JSC "Thermal Power Plants", International Cooperation and Investment Attraction Department - Rakhimov Aziz
uvespi@tpp.uz
+998 99 8005861
https://www.tpp.uz/
23 Bunyodkor Avenue 100097 Tashkent, Uzbekistan

Project ID 54437

Status Passed Final Review, Pending Approval

Location

Uzbekistan

Business Sector

Energy

Notice Type

State

Environmental Category

Approval Date

14 Dec 2023

Disclosure date

13 Jul 2023

Project description

Project objectives

The loan proceeds will be used to finance working capital and operational liquidity needs in the aftermath of the COVID-19 pandemic. The project will provide immediate liquidity to the company to support its operations, ensuring the company's appropriate preparation and maintenance ahead of the next winter season. The project will combine immediate response with long-term reform objectives such as supporting decarbonisation and tariff reform.

Transition impact

ETI Score:75

o the Resilient and Inclusive Transition Impact qualities. The Project will enhance the capacity of JSC TPP to actively contribute to a 'just' transition by supporting the redeployment and reskilling of JSC TPP employees and will support the development of a strategic vision for JSC TPP's HR function. The Bank's loan will be used to support the working capital and operational liquidity needs of the company to help ensure the company's power generation capacity is adequately preserved in the aftermath of the COVID-19 pandemic. The project will also help JSC TPP operationalise its tariff calculation methodology.

Client information

UZBEKISTAN SOVEREIGN

The state power generation company JSC "Thermal Power Plants"

EBRD Finance Summary

EUR 250,000,000.00

A loan of up to €250 million in favour of the Republic of Uzbekistan, with loan proceeds on-lent to JSC TPP.

Total project cost

EUR 250,000,000.00

Additionality

The EBRD financing covers a financing gap caused by adverse market conditions and the COVID-19 impact, as financing from local commercial banks is constrained and is not available at the required terms. The client will also benefit from the EBRD's expertise on higher environmental standards.

Environmental & Social Summary

Category B (ESP 2019). This is a repeat transaction with an existing client and provides an opportunity for continued engagement with the country's major gas-fired power capacity manager which is essential for implementation of the sectoral low carbon pathway developed with the EBRD's support. The key E&S risks are associated with attaining decarbonisation plans and targets as well as compliance with the Bank's PRs including EU environmental standards such as EU BAT, which may be demanding and going beyond national legislation.

An independent consultant will undertake the ESDD and review the status of compliance for the existing ESAP and commitments, and ascertain environmental social risks associated with current operations in terms of environmental performance, health and safety as well as review of planned project pipeline. As part of the ESDD a review will be made of the client's commitment to decommission fossil fuel powered generation capacity. Overall the project will support the Company and the country in moving along the Low Carbon Pathway developed for the energy sector with help of the EBRD and published by the Uzbek authorities in early 2021. The ESDD will review the current status of compliance and progress with the LCP and the company's decarbonisation efforts in the context of the country's recently upgraded NDC under the Paris Agreement. Based on the ESDD the existing corporate ESAP will be revised and updated inclusive of corporate reporting and disclosure requirements as well as decommissioning and decarbonizing plans.

The PSD will be updated based on the results of the ESDD.

Technical Cooperation and Grant Financing

The following pre-signing technical co-operation ('TC') assignments are envisaged:

TC 1: Environmental and Social due diligence, funding amount and source to be confirmed;
TC 2: Tariff methodology support, funding amount and source to be confirmed;
TC 3: Capacity building activities to support the Company in project implementation and structuring, funding amount and source to be confirmed.

Company Contact Information

Implementation summary

PSD last updated

16 Jul 2023

Understanding transition

Further information regarding the EBRD’s approach to measuring transition impact is available here.

Business opportunities

For business opportunities or procurement, contact the client company.

For business opportunities with the EBRD (not related to procurement) contact:

Tel: +44 20 7338 7168
Email: projectenquiries@ebrd.com

For state-sector projects, visit EBRD Procurement:

Tel: +44 20 7338 6794
Email: procurement@ebrd.com

General enquiries

Specific enquiries can be made using the EBRD Enquiries form.

Environmental and Social Policy (ESP)

The ESP and its associated Environmental and Social Requirements (ESRs) set out the ways in which the EBRD implements its commitment to promoting “environmentally sound and sustainable development”. The ESP and the ESRs include specific provisions for clients to comply with the applicable requirements of national laws on public information and consultation, and to establish a grievance mechanism to receive and facilitate resolution of stakeholders’ concerns and grievances, in particular, about the environmental and social (E&S) performance of the client and the project. Proportionate to the nature and scale of a project’s environmental and social risks and impacts, the EBRD also requires its clients to disclose information, as appropriate, about the risks and impacts of projects or to undertake meaningful consultation with stakeholders and consider and respond to their feedback.

More information on the EBRD’s practices in this regard is set out in the ESP.

Integrity and compliance

The EBRD's Office of the Chief Compliance Officer (OCCO) promotes good governance and ensures that the highest standards of integrity are applied to all of the Bank's activities in accordance with international best practice. Integrity due diligence is conducted on all Bank clients to ensure that projects do not present unacceptable integrity or reputational risks to the Bank. The EBRD believes that identifying and resolving issues in the project assessment and approval stages is the most effective means of ensuring the integrity of Bank transactions. OCCO plays a key role in these protective efforts andhelps to monitor integrity risks in projects post-investment.

OCCO is further responsible for investigating allegations of fraud, corruption and misconduct in EBRD-financed projects. Anyone, either within or outside the Bank, who suspects fraud or corruption should submit a written report to the Chief Compliance Officer by email to compliance@ebrd.com. OCCO will follow-up all matters reported. It will review all matters reported. Reports can be made in any language of the Bank or of the Bank's countries of operation. The information provided must be made in good faith.

Access to Information Policy (AIP)

The AIP, which entered into force on 1 January 2025, sets out how the EBRD discloses information and consults with its stakeholders to promote better awareness and understanding of its strategies, policies and operations. Please visit the Access to Information Policy page to find out what information is available from the EBRD website.

Specific requests for information can be made using the EBRD enquiries form.

Independent Project Accountability Mechanism (IPAM)

If efforts to address environmental, social or public disclosure concerns with the Client or the Bank are unsuccessful (for example, through the client’s project-level grievance mechanism or through direct engagement with Bank management), individuals and organisations may seek to address their concerns through the EBRD’s Independent Project Accountability Mechanism (IPAM).

IPAM independently reviews project issues that are believed to have caused (or to be likely to cause) harm. The purpose of the mechanism is: to support dialogue between project stakeholders to resolve environmental, social and public disclosure issues; to determine whether the Bank has complied with its Environmental and Social Policy or the project-specific provisions of its Access to Information Policy; and where applicable, to address any existing non-compliance with these policies, while preventing future non-compliance by the Bank.

Please visit the Independent Project Accountability Mechanism webpage to find out more about IPAM and its mandate and how to submit a Request for review. Alternatively, contact IPAM by email at ipam@ebrd.com for guidance and more information on IPAM and how to submit a request.

Environmental and Social Documentation is not available for this project.

Selected procurement notices related to this project may be shown below. Further procurement opportunities related to this and other projects, if available, maybe be viewed in the EBRD Procurement Portal.

The EBRD's Environmental and Social Policy (ESP), Access to Information policy (AIP) and Project Accountability Policy (PAP) enable sound and sustainable development in its projects. The Independent Project Accountability Mechanism (IPAM) deals with complaints about environmental, social and disclosure matters related to the Bank’s investments.

No complaints about this project have been made so far.

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Electricity Support Facility - Uzbekistan JSC TPP

Overview

Project timeline

Company Contact Information

Project description

Project objectives

Transition impact

Client information

EBRD Finance Summary

Total project cost

Additionality

Environmental & Social Summary

Technical Cooperation and Grant Financing

Company Contact Information

Implementation summary

PSD last updated

Understanding transition

Business opportunities

General enquiries

Environmental and Social Policy (ESP)

Integrity and compliance

Access to Information Policy (AIP)

Independent Project Accountability Mechanism (IPAM)