ACWA seeks EBRD funding for 20-MW electrolyser in Uzbekistan

Saudi Arabia’s ACWA Power Co (TADAWUL:2082) and its joint venture partner UzKimyoSanoat have applied to obtain USD 21.2 million (EUR 19.7m) in debt for a 20-MW hydrogen plant in the Tashkent region of Uzbekistan.

The partners have approached the European Bank for Reconstruction and Development (EBRD) for the financing, the lender said in a disclosure on Monday. It is due to approve the extension of the loan on June 26.

Do you know we have a daily hydrogen newsletter? Subscribe here for free!

The target funding is planned to go for the installation of an electrolyser in the city of Chirchiq, which will be able to produce about 3,000 tonnes of green hydrogen annually. The process will be powered with electricity coming from a 52-MW wind farm located within the EBRD-financed 500-MW Bash wind complex being built in the Bukhara region of southwestern Uzbekistan.

According to EBRD’s website, funding for the electrolyser is part of a larger loan package of up to USD 55.4 million requested by ACWA and UzKimyoSanoat. A loan of USD 34.2 million is targeted for the wind component. The duo’s funding application has passed final review and is pending approval on June 26, as well.

The total required investment to build the pilot electrolyser stands at USD 36.6 million.

(USD 1.0 = USD 0.934)