Acwa secures $226M financing for Uzbekistan wind project

Logo of Acwa

ACWA Power Co. signed today, May 7, financing agreements for the Bash 2 wind power plant project in Uzbekistan, with a capacity of 300 MW and a total value of USD 226 million (SAR 847.5 million).

The company said in a statement to Argaam that financing from the Asian Development Bank (ADB), the Asian Infrastructure Investment Bank (AIIB), and Standard Chartered Bank covers more than two-thirds of the total project cost.

Acwa Power CEO Samir Serhan stated that the Bash 2 project is located in the Gijduvan area of the Bukhara region, adding that it will expand Uzbekistan’s clean energy portfolio by increasing renewable energy generation and supporting efforts to diversify the energy mix.

He also noted that the project is part of a larger renewable energy complex currently under development in the region.

He further said that, under a 25-year power purchase agreement with Uzbekistan’s national electricity grid, the Bash 2 plant is expected to begin commercial operations in the second half of 2027.