The Japan Bank for International Cooperation (JBIC) is preparing a financial package worth a total of 1.45 billion US dollars to develop renewable energy in Uzbekistan. This was reported by Nikkei.
This step is aimed at strengthening Tokyo's position in Central Asia. The funds will be directed to the construction of two complexes near Samarkand combining solar power generation and energy storage systems.
Their total capacity will amount to 1,000 MW, and this project will be one of the largest initiatives in the field of renewable energy in the country. The following parties are involved in the project: Financing: - JBIC will provide 635 million dollars, which is the largest share among the creditors.
- Private banks Sumitomo Mitsui Banking Corp. and Norinchukin Bank will also participate in the financing.
Risks insurance will be provided by Nippon Export and Investment Insurance (NEXI). In 2024, a three-year cooperation program was signed between Uzbekistan and JBIC, within the framework of which non-sovereign financing for projects of Japanese companies is envisaged.
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