Nur Navoi (EBRD-51454)

Countries
  • Uzbekistan
Where the impacts of the investment may be experienced.
Financial Institutions
  • European Bank for Reconstruction and Development (EBRD)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Proposed
Bank Risk Rating
B
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Voting Date
Sep 16, 2020
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower
Abu Dhabi Future Energy Company PJSC - Masdar (Masdar)
The holder of the loan, grant, or other investment.
Sectors
  • Energy
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Loan
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 25.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Project Cost (USD)
$ 112.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Primary Source

Original disclosure @ EBRD website

Updated in EWS Aug 7, 2020

Disclosed by Bank Jul 24, 2020


Contribute Information
Can you contribute information about this project?
Contact the EWS Team

Project Description

 

Under this project-EBRD provides loan of US$25 million for financial support of  the construction and operation of a pilot solar auction project of 100 MW installed capacity located in Navoi region of Uzbekistan.

PROJECT OBJECTIVES

Nur Navoi project  is among first solar projects in Uzbekistan which will pave the way for a pipeline of renewable projects in the country. It will contribute to climate mitigation by adding 100 MW of solar generation capacity to the national energy system and will assist the country in low-carbon transition, reducing its current high reliance on thermal power generation.

 

Investment Description
  • European Bank for Reconstruction and Development (EBRD)
Private Actors

NUR NAVOI SOLAR HOLDING RSC LTD

The Borrower is an UAE holding company fully owned by Masdar. The Borrower will hold majority ownership in an Uzbek Project SPV responsible for the project construction and operation.

Loan guarantor: Abu Dhabi Future Energy Company PJSC - Masdar (Masdar), a global leader in renewable energy and sustainable urban development. It was established in 2006 as a strategic government initiative to invest, incubate and establish new energy industry in Abu Dhabi and around the world. Masdar is fully owned by Mubadala Investment Company, an investment company established and fully owned by the government of Abu Dhabi.

 

Contact Information

ACCESS TO INFORMATION

You can request information by emailing: accessinfo@ebrd.com or by using this electronic form: https://www.ebrd.com/eform/information-request

ACCOUNTABILITY MECHANISM OF EBRD

The Project Complaint Mechanism (PCM) is the independent complaint mechanism and fact-finding body for people who have been or are likely to be adversely affected by an European Bank for Reconstruction and Development (EBRD)-financed project. If you submit a complaint to the PCM, it may assess compliance with EBRD's own policies and procedures to prevent harm to the environment or communities or it may assist you in resolving the problem that led to the complaint through a dialogue with those implementing the project. Additionally, the PCM has the authority to recommend a project be suspended in the event that harm is imminent.

COMPANY CONTACT INFORMATION

Dr. Mohamed Asaad Tahermataher@masdar.ae+971 2 653 3333+971 2 653 0002http://www.masdar.aePO Box 54115, Abu Dhabi, UAE

You can contact the PCM at: pcm@ebrd.com or you can submit a complaint online using an online form at: http://www.ebrd.com/eform/pcm/complaint_form?language=en

You can learn more about the PCM and how to file a complaint at: http://www.ebrd.com/work-with-us/project-finance/project-complaint-mechanism.html