Sazagan-2 Solar PV and BESS (EBRD-54551)

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
Samarkand and Bukhara regions
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
  • 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
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
A
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."
Voting Date
Mar 12, 2025
Date when project documentation and funding is reviewed by the Board for consideration and approval. Some development banks will state a "board date" or "decision date." When funding approval is obtained, the legal documents are accepted and signed, the implementation phase begins.
Borrower
ACWA Power Sazagan Solar 2 LLC (ACWA Power)
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Energy
  • Infrastructure
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)
$ 75.00 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)
$ 75.00 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)
$ 990.00 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.
Bank Documents
Other Related Projects
Primary Source

Original disclosure @ EBRD website

Updated in EWS Jan 28, 2025

Disclosed by Bank Jan 27, 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 EBRD, the project consists of the provision of a long-term, senior loan up to US$ 75 million, for the development, design, construction and operation of a 500MW solar photovoltaic power plant and 500 MWh battery energy storage system (BESS) located in the Samarkand and Bukhara regions, respectively, in Uzbekistan in addition to the interconnection facilities. ACWA Power Sazagan Solar 2 LLC, a special purpose vehicle established in Uzbekistan, will act as the borrower. ACWA Power will act as the sponsor for the Project. Sumitomo Corporation will be a co-sponsor.

The project will add 500 MW of solar generation capacity and 500 MWh of BESS to the power system of Uzbekistan. The project will help to improve reliability of intermittent solar power generation in Uzbekistan by introducing battery storage. The Project is among the largest in Central Asia. Successful implementation of the project will pave the way for broader implementation of renewable projects as BESS helps mitigate intermittence constraints of renewables' capacity.

The 350 km transmission line is an associated facility for the Bank, and has been covered by the ESIA of the Project, which included both livelihood impacts as well as biodiversity assessments. As Critical Habitat for Great Bustard is triggered on a portion of the corridor, and an offset program will be developed to ensure compliance with PR6.

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 the EBRD, ACWA Power Sazagan Solar 2 LLC is a newly established special purpose vehicle incorporated in Uzbekistan for the development and implementation of the Project. ACWA Power is an international developer of power generation, desalinated water and green hydrogen production projects. Sumitomo Corporation is a global trading and investment company and operates across various geographies and industries including infrastructure, construction systems and energy.

Private Actor 1 Private Actor 1 Role Private Actor 1 Sector Relation Private Actor 2 Private Actor 2 Role Private Actor 2 Sector
Sumitomo Corp Contractor Infrastructure contracts with ACWA Power Company Client 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.

Client - ACWA Power Company:

Farman Ahmed Khan Lodhi
Email: flodhi@acwapower.com
Phone: +998(90)0116155
Website: https://www.acwapower.com/
Address: ACWA Power Uzbekistan Office, Business Center SIMURG, 88a Amir Temur Avenue, Yunusabad District, 100084, Tashkent, Uzbekistan

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.

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

How it works

How it works