The package will be provided to project developer Tutly Solar LLC (Tutly Solar), which is fully owned by Total Eren, a leading France-based independent power producer (IPP) for renewable energy sources (mainly solar and wind), active globally. It will consist of an EIB loan of €43.7 million and two loans of approximately €21.8 million each from the EBRD and PROPARCO.
This is one of the first private-sector renewable energy projects in the country. It will help diversify the energy mix, which is currently dominated by fossil fuel-fired power stations, and increase generation capacity and the reliability of supply to address growing demand for electricity. Once implemented, the project will help reduce greenhouse gas emissions by 160 000 tpy of CO2 equivalent and generate an additional 270 GWh of electricity for thousands of inhabitants of Central Asia’s most populated country.
The project will thus contribute to priorities identified in the UN's 2030 Sustainable Development Goals (SDGs): affordable and clean energy; decent work and economic growth; industry, innovation and infrastructure; and climate action.
After the commissioning, the electricity produced by Tutly Solar will be sold to the operator, National Electric Networks of Uzbekistan, through a 25-year power purchase agreement (PPA). The project, which involves Total Eren as one of the first IPPs in the country, will develop Uzbekistan’s huge solar potential.
For more news and technical articles from the global renewable industry, read the latest issue of Energy Global magazine.
Energy Global's Spring 2021 issue
The Spring issue of Energy Global features a varied spectrum of in-depth technical articles detailing recent projects, future projections, and technological advancements in the renewables sector, from companies including GlobalData, Atlas Copco, Watlow, QED Naval, TRACTO, AB Energy, and more.
