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    Uzbekistan Economics Central Asia

    EBRD to provide $65mn for Uzbekistan’s renewable hydrogen project

    EBRD to provide $65mn for Uzbekistan’s renewable hydrogen project

    The European Bank for Reconstruction and Development (EBRD) is advancing efforts to reduce carbon emissions in Uzbekistan through the financing of a pioneering renewable hydrogen facility in Central Asia. The initiative will feature a 20 MW electrolyser and a greenfield 52 MW wind power plant, marking a significant step in the country’s energy transition. This announcement was made by EBRD Chief Spokesman for Central Asia and Mongolia, Anton Usov on August 28. 

    Photo: Renewable hydrogen facility
    Source: LinkedIn

    The EBRD has allocated a financial package of $65mn for the project's development. This package includes a $55mn senior loan from the EBRD and up to $10mn in concessional finance from Canada, provided through the Special Fund for the High Impact Partnership on Climate Action (HIPCA). Additionally, the EBRD plans to provide an equity bridge loan of up to $5.5mn.

    ACWA Power UKS Green H2, the entity managing the project, is a joint venture between ACWA Power and Uzkimyosanoat, a holding company for Uzbekistan’s state-owned chemical enterprises. The facility's primary goal is to replace grey hydrogen, which is produced from natural gas and used in ammonia fertiliser production, with renewable hydrogen. This transition is critical for reducing carbon emissions in the fertiliser sector.

    Photo: Driss Beraho and Aida Sitdikova
    Source: LinkedIn

    The facility is expected to generate up to 3,000 tonnes of renewable hydrogen annually. It is projected to contribute to a reduction in CO2 emissions by about 22,000 tonnes each year once operational.

     

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    28.08.2024, 15:15   Comments (0)   1638
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