{"id":86394,"date":"2024-08-29T00:00:00","date_gmt":"2024-08-29T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/climate\/2024\/08\/29\/ebrd-extends-usd-65-mn-in-financing-for-acwas-green-hydrogen-project-in-uzbekistan\/"},"modified":"2024-08-29T00:00:00","modified_gmt":"2024-08-29T00:00:00","slug":"ebrd-extends-usd-65-mn-in-financing-for-acwas-green-hydrogen-project-in-uzbekistan","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/climate\/2024\/08\/29\/ebrd-extends-usd-65-mn-in-financing-for-acwas-green-hydrogen-project-in-uzbekistan\/","title":{"rendered":"EBRD extends USD 65 mn in financing for Acwa\u2019s green hydrogen project in Uzbekistan"},"content":{"rendered":"

EBRD kicks in finance for Acwa\u2019s green hydrogen project in <\/strong>Uzbekistan:<\/strong> The European Bank for Reconstruction and Development (EBRD) will extend a USD 65 mn financing package to fund Saudi renewables giant Acwa Power\u2019s green hydrogen project<\/a> in Uzbekistan, according to a statement<\/a>. The project aims to support the decarbonization of the Central Asian country\u2019s ammonia sector and increase renewable energy generation.<\/p>\n

What we know: <\/strong>The EBRD is providing a USD 65 mn package that consists of a USD 55 mn senior loan and up to USD 10 mn in concessional finance from Canada\u2019s Special Fund for the High Impact Partnership on Climate Action. The EBRD said it also plans to add an equity bridge loan of up to USD 5.5 mn. The financing package will be offered to Acwa Power UKS Green H2 \u2014 a special purpose company that is jointly owned by Acwa Power and Uzbekistan\u2019s holding company of state-owned chemical firms Uzkimyosanoat.<\/span><\/p>\n

About the plant: <\/strong>Acwa\u2019s green hydrogen plant \u2014 expected to be commissioned in December 2024 \u2014 includes a 20 MW electrolyser<\/a> fed by a 52 MW wind power plant in the Bukhara region to produce 3k tons of green hydrogen annually. Acwa Power broke ground<\/a> on the project in November last year and signed the terms of agreement<\/a> with the Uzbek Energy Ministry and Uzkimyosanoat for developing the plant back in January 2023.<\/p>\n

Not the EBRD\u2019s first hydrogen endeavor: <\/strong>The project in Uzbekistan is the second renewable hydrogen production project to be financed by the EBRD since it provided a USD 80 mn loan<\/a> to help set up Egypt\u2019s first integrated green hydrogen plant in 2022. The project is being developed<\/a> by a consortium comprising UAE-based urea and ammonia exporter Fertiglobe, Norway\u2019s Scatec, the Sovereign Fund of Egypt, and Orascom Construction.<\/p>\n","protected":false},"excerpt":{"rendered":"

Acwa\u2019s green hydrogen plant is expected to be commissioned in December 2024<\/p>\n","protected":false},"author":1,"featured_media":86395,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[84],"tags":[83,390,11,39,174],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-86394","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-debt-watch","tag-debt-watch","tag-ebrd","tag-enterpriseclimate","tag-green-hydrogen","tag-uzbekistan","wpautop","entry"],"acf":{"mongo_id":"2b7c80e1-e3c9-4faf-898f-be2cc067c48f","order":"3","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/7\/744.jpg","photo_position":"above","homepage_title":"","full_issue_title":"EBRD extends USD 65 mn in financing for Acwa\u2019s green hydrogen project in Uzbekistan","related_issue":[86389],"teaser":"Acwa\u2019s green hydrogen plant is expected to be commissioned in December 2024","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/8\/.d63df8fa-5849-4dad-a039-d895dcccbccb.mp3"},"yoast_head":"\nEBRD extends USD 65 mn in financing for Acwa\u2019s green hydrogen project in Uzbekistan - Climate<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/climate\/2024\/08\/29\/ebrd-extends-usd-65-mn-in-financing-for-acwas-green-hydrogen-project-in-uzbekistan\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"EBRD extends USD 65 mn in financing for Acwa\u2019s green hydrogen project in Uzbekistan\" \/>\n<meta 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