UZ Scaling Solar (IFC-42525)

Countries
  • Uzbekistan
Geographic location where the impacts of the investment may be experienced.
Specific Location
Uzumzor, Navoi
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 Finance Corporation (IFC)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Active
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
B
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
Sep 15, 2020
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
Nur Navoi Solar Foreign Enterprise LLC
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Construction
  • 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)
$ 40.00 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)
$ 110.00 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 @ IFC website

Updated in EWS Aug 14, 2024

Disclosed by Bank Aug 13, 2020

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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.

According to the IFC's website, this project provides financing for the construction and operation of a 100MW solar photovoltaic plant located in Navoi, Uzbekistan as a public-private partnership (PPP).

The proposed site is located 39 km to the west from of the city of Navoi and 3.2 km away from the small town of Uzumzor. 

Investment Description
Here you can find a list of individual development financial institutions that finance the project.

The Asian Development Bank is expected to contribute US$20 million to this 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.

The Project is being implemented by Nur Navoi Solar Foreign Enterprise LLC, a special purpose company incorporated in Uzbekistan, wholly owned by Abu Dhabi Future Energy Company PJSC (“Masdar”).

Masdar was formed in Abu Dhabi in 2006 as a wholly-owned subsidiary of Mubadala Investment Company (“Mubadala”) to promote renewable energy and sustainable urban development.   Masdar is active in over 30 countries and has investments in clean energy projects with a combined value of c.US$14.3 billion and a gross capacity of over 5 gigawatts (GW) installed or under development. The technology deployed in these projects range from onshore and offshore wind projects to solar PV and CSP technologies in the Middle East, North Africa, Europe, North America and Australasia. Masdar's shareholder Mubadala Investment Company is wholly-owned by the Government of Abu Dhabi and has assets under management of c.US$229 billion.

Private Actor 1 Private Actor 1 Role Private Actor 1 Sector Relation Private Actor 2 Private Actor 2 Role Private Actor 2 Sector
- - - - Abu Dhabi Future Energy Company PJSC - Masdar Parent Company -
- - - - Mubadala Investment Company Parent Company -
- - - - Nur Navoi Solar Foreign Enterprise LLC Client -

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.

For inquiries about the project:
Abu Dhabi Future Energy Company
Mohamed Asaad Taher
Dr.
+971 2 653 3333; +971 2 653 0002
mataher@masdar.ae
PO Box 54115, Abu Dhabi, UAE
http://www.masdar.ae

For local access to project documentation:
Mr. Elbek Gafforov
Deputy Head of Investment Department
Navoi region Khokimiyat,
Tel. +998 99 750 17 11,
gafforovelbek@gmail.com
Address:  77A Islam Karimov Street, Navoi city, Navoi region.  Zip code: 210100
http://navoi.uz/

ACCESS TO INFORMATION
You can submit a request for information disclosure at: https://disclosures.ifc.org/#/inquiries

If you believe that your request for information from IFC has been unreasonably denied, or that this Policy has been interpreted incorrectly, you can submit a complaint at the link above to IFC's Access to Information Policy Advisor, who reports directly to IFC's Executive Vice President.

ACCOUNTABILITY MECHANISM OF IFC/MIGA
The Compliance Advisor Ombudsman (CAO) is the independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an IFC or MIGA- financed project. If you submit a complaint to the CAO, they may assist you in resolving a dispute with the company and/or investigate to assess whether the IFC is following its own policies and procedures for preventing harm to people or the environment. If you want to submit a complaint electronically, you can email the CAO at CAO@worldbankgroup.org You can learn more about the CAO and how to file a complaint at http://www.cao-ombudsman.org

How it works

How it works