What Happened

ACWA Power secured $226M in financing for the Bash II 300 MW Wind Farm project in Uzbekistan. The funding was provided by the Asian Development Bank, Asian Infrastructure Investment Bank, and Standard Chartered Bank. The project is expected to begin commercial operations in late 2027.

Who Is Affected

The National Electric Grid of Uzbekistan (NEGU) will purchase electricity under a 25-year power purchase agreement. Local households in the Bukhara region will benefit from increased energy access, and Uzbekistan's energy sector will see enhanced renewable capacity.

Market Impact

• Strengthens Uzbekistan's renewable energy capacity.
• Supports decarbonization targets for 2030.
• Demonstrates lender confidence in ACWA Power's execution and Uzbekistan's energy reforms.

What to Watch

Monitor ACWA Power's expanding renewable energy portfolio in Central Asia and Uzbekistan's progress toward its 2030 renewable energy targets. The project's operational launch in late 2027 will be a key milestone.