Notizie

Masdar's $199 Million Financing BESS Project In Bukhara Regione In Uzbekistan

Pubblicato il: 8/1/2024

Clifford Chance advised the lenders on the deal.

Abu Dhabi Future Energy Company PJSC (Masdar) and its financiers reached financial close to fund a 250-megawatt (MW) solar photovoltaic plant with an integrated 63-MW battery energy storage system (BESS) in the Bukhara region in Uzbekistan.

The Project constitutes the development, construction, operation, and transfer of a 250 MW solar PV along with a 63 MW/126MWh of battery storage and a 220 kV substation. The project site is in the Bukhara region and covers an area of around 6.75 square kilometers.

The project is consistent with ADB's Strategy 2030, which includes tackling climate change and enhancing environmental sustainability as key operational priorities. The project is also consistent with the Uzbekistan Country Partnership Strategy 2019-2023, as the project will help foster reliable energy supply to improve energy security and promote the use of renewable energy sources. ADB seeks to create conditions for greater private sector participation in Uzbekistan.

The financing package of approximately $199 million includes loans from the Asian Development Bank (ADB), Dutch Entrepreneurial Development Bank (FMO), Japan International Cooperation Agency (JICA) and International Finance Corporation (IFC), including concessional facilities.

The Clifford Chance multidisciplinary team across the Paris, London, Dubai and Abu Dhabi offices includes Milica Zatezalo-Falatar (Picture), partner, Elena Prudon, Violaine Lecoq Burgelin and Manon Guéry, associates, and Ilona Métais, on the project and financing aspects; Fabien Jacquemard, senior counsel, on the hedging aspects; Sandy Hall, partner, and Jonathan Forrest, senior associate, on the construction aspects; Bruce Kahl, partner, and Struan Murray, senior associate, on the agency aspects ; as well as Nicola Reader, partner, and Salma Mowlid, associate, on the ADGM and UAE law aspects.