Solar Public-Private Partnership Investment Program - Tranche 2 (ADB-54056-003)

Regions
  • Europe and Central Asia
Geographic location where the impacts of the investment may be experienced.
Countries
  • Uzbekistan
Geographic location where the impacts of the investment may be experienced.
Specific Location
Guzar, Kashkadarya region
Whenever identified, the area within countries where the impacts of the investment may be experienced. Exact locations of projects may not be identified fully or at all in project documents. Please review updated project documents and community-led assessments.
Financial Institutions
  • Asian Development Bank (ADB)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Approved
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
U
Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."
Borrower
Government of Uzbekistan
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
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, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 9.00 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Loan Amount (USD)
$ 9.00 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Project Cost (USD)
$ 252.90 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Bank Documents
Other Related Projects
Primary Source

Original disclosure @ ADB website

Updated in EWS Aug 25, 2026

Disclosed by Bank Nov 10, 2025

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Project Description
If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed description.

As stated by the ADB, this Tranche 2 involves the issuance of a sovereign partial credit guarantee (PCG) under the Multitranche Financing Facility Number 113 Republic of Uzbekistan: Solar Public-Private Partnership Investment Program. The PCG will support the development of the Guzar Solar and BESS Project, which consists of a 300 MW solar photovoltaic (PV) power plant, a 75/megawatt/75 megawatt-hour battery energy storage system (BESS), and associated infrastructure in Guzar, Kashkadarya region. The PCG will enhance the creditworthiness of the electricity offtaker by backing a letter of credit issued in favor of the project company under the project's Public-Private Partnership Agreement (PPPA). The associated Guzar Solar and BESS project was designed and auctioned under the Uzbekistan Solar PPP Investment Program, which is primarily intended to catalyze the next stage of solar power market development in Uzbekistan.

Investment Description
Here you can find a list of individual development financial institutions that finance the project.
Private Actors Description
A Private Actor is a non-governmental body or entity that is the borrower or client of a development project, which can include corporations, private equity and banks. This describes the private actors and their roles in relation to the project, when private actor information is disclosed or has been further researched.

As stated by Bloomberg, Abu Dhabi Future Energy Co Pjsc Masdar develops and invests in renewable energy solutions. The Company focuses on green hydrogen initiatives and the development of solar, wind, energy storage, waste-to-energy, and geothermal projects. Abu Dhabi Future Energy Co Pjs serves governments, utilities, and large-scale energy consumers in the United Arab Emirates, United States, and Saudi Arabia.

Private Actor 1 Private Actor 1 Role Private Actor 1 Sector Relation Private Actor 2 Private Actor 2 Role Private Actor 2 Sector
JSC National Electric Grid of Uzbekistan Buyer Energy contracts with Abu Dhabi Future Energy Company PJSC - Masdar Contractor Energy

Contact Information
This section aims to support the local communities and local CSO to get to know which stakeholders are involved in a project with their roles and responsibilities. If available, there may be a complaint office for the respective bank which operates independently to receive and determine violations in policy and practice. Independent Accountability Mechanisms receive and respond to complaints. Most Independent Accountability Mechanisms offer two functions for addressing complaints: dispute resolution and compliance review.

Executing Agency - Ministry of Economy and Finance:

Abdukodir Yokubov - Deputy Director of PPP Department
Phone: +99871 2035050
Email: yoqubov.abduqodir@imv.uz 

Ministry of Investment, Industry and Trade:

Aziz Khamidov - Head of Department for Attracting Investments from the Middle East and South Asia
Phone +99871 238 5121 (223)
Email: a.khamidov@miit.uz 

Implementing Agency - Joint-Stock Company National Electric Grid of Uzbekistan:

Feruz Kurbanov - Deputy Chairman for Investments
Phone: +998 71-208-5622, 236-0890
Email: f.qurbonov@uzbekistonmet.uz 

Asian Development Bank:

Joonho Hwang - Director, Energy Sector Office (SD1-ENE)
Phone: +63-2-8632-6387
Email: jhwang@adb.org 

Guarantees and Syndication Unit:

Bart Raemaekers - Advisor, Private Sector Operations Department and Head, Guarantees and Syndication Unit (OPSD-GSU)
Phone: +63-2-8632-6568
Email: braemaekers@adb.org

Mission Leader:

Alfredo Baño Leal - Senior Energy Specialist, Energy Sector Office
Phone: +998-781201235
Email: abano@adb.org 

Alexander N. Jett - Senior Investment Specialist (Guarantees), OPSD-GSU
Phone: +63-2-8632-6188
Email: ajett@adb.org

Kanokpan Lao-Araya - Country Director
Phone: +63-2- 85508241
Email: klaoaraya@adb.org 

ACCESS TO INFORMATION

You can submit an information request for project information at: https://www.adb.org/forms/request-information-form

ADB has a two-stage appeals process for requesters who believe that ADB has denied their request for information in violation of its Access to Information Policy. You can learn more about filing an appeal at: https://www.adb.org/site/disclosure/appeals

ACCOUNTABILITY MECHANISM OF ADB

The Accountability Mechanism is an independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an Asian Development Bank-financed project. If you submit a complaint to the Accountability Mechanism, they may investigate to assess whether the Asian Development Bank is following its own policies and procedures for preventing harm to people or the environment. You can learn more about the Accountability Mechanism and how to file a complaint at: http://www.adb.org/site/accountability-mechanism/main.

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How it works