Pilot Uzbek Renewable Hydrogen Project - Electrolyser (EBRD-54648)

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
Chirchiq City (Tashkent region), Gijduvon district (Bukhara 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
  • 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
Jun 25, 2024
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
JV "ACWA Power UKS Green H2 LLC"
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)
$ 21.15 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)
$ 21.15 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)
$ 55.40 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
Media Documents
Primary Source

Original disclosure @ EBRD website

Updated in EWS Jun 25, 2024

Disclosed by Bank Jun 17, 2024

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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 entails the provision of a senior secured loan of up to US$ 55.4 million on a project finance basis, comprised of a Bash WPP Extension tranche of up to US$ 34.2 million and an Electrolyser tranche of up to US$ 21.2 million, to finance the construction of an integrated renewable hydrogen production facility consisting of a 20 MW electrolyser fed by greenfield 52 MW wind power plant to produce around 3,000 tonnes of renewable hydrogen annually. The electrolyser will be located in the Chirchiq City, Tashkent region, and the wind power plant will be in the Gijduvon district, Bukhara region. The wind facility will be collocated with the existing 500 MW EBRD-financed Uzbekistan Bash WPP.

Through the financing of the integrated renewable hydrogen production facility, the project aims to support:

a) a first-of-its-kind renewable hydrogen production project in Uzbekistan and across Central Asia, providing a critical demonstration effect to stimulate further projects.

b) the decarbonisation of Uzbekistan's ammonia sector.

c) increased renewable energy generation.

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, JV "ACWA Power UKS Green H2 LLC" (the "Borrower") is a newly established special project vehicle incorporated in Uzbekistan for the development and implementation of the Project. The Borrower is owned by ACWA Power Company and Joint Stock Company UzKimyoSanoat ("UKS").

ACWA Power is an experienced international developer of power generation, desalinated water and renewable hydrogen production projects.

UKS is a chemicals and fertilisers manufacturing group based in the Republic of Uzbekistan. A subsidiary of UKS will be the offtaker of the renewable hydrogen produced by the Project.

Private Actor 1 Private Actor 1 Role Private Actor 1 Sector Relation Private Actor 2 Private Actor 2 Role Private Actor 2 Sector
JSC UzKimyoSanoat Client Industry and Trade 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:

Mr. Alimardon Abdukarimov
Email: aabdukarimov@acwapower.com
Phone: + 998 90 017 99 60
Website: https://www.acwapower.com
Address: ACWA Power, Business Center "Simurg" Block-A, 3rd Floor, Amir Temur Avenue 88a, Tashkent, 100084, 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