Sumitomo Corporation; together with ACWA; Shikoku Electric Power Co., Inc.; and Chubu Electric Power Co., Inc.; has signed project financing agreements with a group of banks including Japan Bank for International Cooperation, Asian Development Bank, European Bank for Reconstruction and Development, and Islamic Development Bank in relation to solar power and battery energy storage project in Uzbekistan. The portion financed by private financial institutions will be covered by Overseas Untied Loan Insurance provided by Nippon Export and Investment Insurance (NEXI).
The Project involves the construction, ownership and operation of solar power plants that can generate 1,000 MW, equivalent to the annual electricity consumption of approximately 600,000 households, and large-scale Battery Energy Storage Systems (BESSs), with a total storage capacity of 1,336 MWh, located in the Samarkand and Bukhara regions of Uzbekistan. This will develop the largest combined solar photovoltaic and energy storage initiative in Uzbekistan to date. Its construction is scheduled to be completed after 2027.
