The financing package for the project company Tutly Solar (owned by Total Eren) consists of an EIB loan of € 43.7 million and two loans of approximately € 21.8 million each from the EBRD and Proparco.
“This is one of the first private renewable energy projects in the country. It will help diversify the energy balance in Uzbekistan, which is currently dominated by fossil fuel power plants” the press release said.
The project is expected to help reduce annual greenhouse gas emissions by 160 thousand tons of CO2 equivalent and generate an additional 270 GWh of electricity.
After commissioning the electric power produced by Tutly Solar will be sold to «National Electrical Networks of Uzbekistan» under the agreement on purchase of electric power for 25 years.
Total Eren plans to build a 100 MW solar power plant in Samarkand were reported in 2019. The station will be located in the Nurabad district.
