IN THE FIELD “
We are pleased to contribute to Uzbekistan’s massive efforts to upgrade and modernize the country’s power generation capacity with reliable and efficient infrastructure.
OPEC Fund Director-General Abdulhamid Alkhalifa PHOTO: National PR-Centre –
www.uzbekistan.travel
HELPING UZBEKISTAN REDUCE GHG EMISSIONS T
he OPEC Fund’s US$50 million term loan to ACWA Power will support
the construction and operation of a 1.5 GW combined cycle gas-turbine power plant in Sirdarya, Uzbekistan. The new plant, located near the border with Tajikistan, will replace an ageing, less efficient thermal power facility, resulting in lower operating costs and a significant reduction in greenhouse gas (GHG) emissions. Although Uzbekistan is well electrified and electricity demand is increasing, the efficiency of its power plants is low due to outdated infrastructure and technologies. The country experiences regular power outages, which undermine the productivity of businesses and the delivery of energy to households. The new Sirdarya plant is projected to boost generation efficiency and reduce GHG emissions by a minimum of 2.2 million tons each year. Upon completion, the plant is expected to meet 15 percent of power demand in Uzbekistan and comprise eight percent of all installed power capacity. The adoption of modern
technologies will provide a reliable, more consistent delivery of energy. The Uzbek government is committed
to modernizing and strengthening its electricity generation base across the country and has initiated a number of reforms that lay the foundation for encouraging private sector investment. The upgrading of the Sirdarya power plant represents the largest single private sector-led project in Uzbekistan’s energy sector to date, with a total project cost of about US$1 billion. The European Bank for
Reconstruction and Development (EBRD), the Deutsche Investitions- und Entwicklungsgesellschaft mbH (DEG) and commercial banks led by Standard Chartered Bank are also participating in the project. The commercial bank tranches will benefit from a political insurance cover provided by the Multilateral Investment Agency (MIGA) of the World Bank Group. OPEC Fund Director-General Abdulhamid Alkhalifa said: “We are pleased to contribute to Uzbekistan’s
massive efforts to upgrade and modernize the country’s power generation capacity with reliable and efficient infrastructure. Private sector participation in the energy sector will expedite this process and landmark projects such as Sirdarya will pave the way, setting examples of great cooperation among governments, development finance institutions and the private sector.”
Upon completion Sirdarya is expected to meet 15 percent of power demand in Uzbekistan.
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PHOTO: ACWA
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