The government of Uzbekistan’s plans to develop 8 GW of solar and wind capacity by 2030 have received a major boost following the approval of an €87.4 million financing package jointly organised by, the European Bank for Reconstruction and Development (EBRD), the European investment Bank (EIB) and PROPARCO, a subsidiary of Agence Française de Développement, the EBRD said on May 10, adding that the funds will be used to construct and put into operation a 100 MW photovoltaic solar power plant near the city of Samarkand.

According to the EBRD, the package will be provided to project developer Tutly Solar, which is fully owned by Paris-based Total Eren, a leading independent power producer (IPP) from renewable energy sources (mainly solar and wind), active globally. It will consist of an EIB loan of €43.7 million and two loans of approximately €21.8 million each from the EBRD and PROPARCO.

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