EBRD provides US$47.1m to National Electric Grid of Uzbekistan
Tashkent, The Gulf Observer: The European Bank for Reconstruction and Development (EBRD) is facilitating a more reliable and sustainable electricity transmission network in Uzbekistan by providing fresh funds to state power transmission company National Electric Grid of Uzbekistan (NEGU).
The sovereign loan of up to US$ 47.1 million will help NEGU, an existing Bank client, to finance the construction of a new transmission line between the settlements of Sarimay and Djankeldy in the Khoresm and Bukhara region. The new line will link two wind farms – currently under development, with a total installed capacity of up to 1GW – with the national grid.
This network expansion will facilitate the further integration of renewables into Uzbekistan’s grid. It will also help balance the load of existing transmission lines and address the issue of energy supply bottlenecks in the north and south-western parts of the country.
The project will improve the capacity of the electricity system and help reduce grid losses. This is particularly important for Uzbekistan’s growing industrial base and rising population, which require an ever more sustainable power supply.
EBRD First Vice President Jürgen Rigterink said: “Uzbekistan is not only the most populous state in Central Asia, but is also the fastest-growing economy in the region, which needs sustainable infrastructure solutions. Our Bank stands ready to support this growth by financing such projects.”
As part of the project, supported by the Early Transition Countries Fund and the Shareholder Special Fund, the Bank will help NEGU with its capacity building.
To date, the EBRD has invested more than €3.6 billion in 113 projects in Uzbekistan.
