EBRD Backs ACWA’s Uzbekistan Solar-Storage Mega Build

• EBRD backs ACWA Power’s 1 GW solar + 1,336 MWh storage in Uzbekistan—Central Asia’s largest—boosting grid reliability and accelerating the region’s clean-energy shift.

The European Bank for Reconstruction and Development will co-finance a 1 GW solar and 1,336 MWh battery storage complex in Uzbekistan led by an ACWA Power–headed consortium (TADAWUL:2082), billed as Central Asia’s largest solar-plus-storage project. The facility will pair utility-scale photovoltaic capacity with grid-scale batteries to smooth output and enhance system reliability.

The project advances Uzbekistan’s push to diversify its energy mix and cut reliance on gas-fired generation, while marking another major regional foothold for Saudi-based ACWA Power. EBRD backing underscores multilateral support for Central Asia’s clean-energy buildout as governments race to meet rising demand and decarbonization targets.

What is the expected COD timeline and tariff for ACWA Power’s Uzbekistan project?

- COD timeline: phased commissioning from 2026, with full commercial operations targeted by 2027
- Tariff: official tariff terms not disclosed; market guidance points to a long-term energy price in the low–3 US¢/kWh range, with the battery remunerated via a separate availability/capacity payment rather than an energy-linked tariff