FAB India extends loan for Uzbek solar plant: First Abu Dhabi Bank’s India office has advanced an INR 2.96 bn (c. USD 35.4 mn) credit facility to India-based engineering company Jakson Green to develop a 250 MW solar plant in Bukhara, Uzbekistan, Indian news outlet TheEconomic Times reports, citing a statement. The project — the company’s first renewables venture in Uzbekistan — will include an integrated battery energy storage system with a capacity of 63 MW.

(** Tap or click the headline above to read this story with all of the links to our background and outside sources.)

FAB is leading the way in sustainability: The UAE-based lender was recognized as the most sustainable company in the Middle East and Africa by Time magazine and data firm Statista. FAB is the highest-ranked company from the region in Time’s inaugural World’s 500 Most Sustainable Companies list, which evaluated over 5k companies globally. The bank — the first globally to join the COP28 Net-Zero Transition Charter — pledged to lend, invest, and facilitate over AED 500 bn (USD 135 bn) in sustainable and green financing by 2030 during COP28.

About Jakson Green: Founded in 2022, Jakson Green specializes in Engineering, Procurement, and Construction, Independent Power Production, Independent Hydrogen and Ammonia Production, and operations and maintenance of new energy assets, according to their website. These assets span various technologies, including solar, utility-scale energy storage, waste-to-energy, fuel cells, green hydrogen, and green ammonia projects. The company is headquartered in India, with operations across UAE, Europe, the Middle East, Africa, amongst others.

Tags: