2023.05.12
The Japan International Cooperation Agency (JICA) contributes to the promotion of the Japanese government's vision of a “Partnership for Quality Infrastructure” through its investment in the “Leading Asia's Private Infrastructure Fund (LEAP)” (Note 1), a fund managed by the Asian Development Bank (ADB).
The ADB recently announced that two loan agreements totalling $174 million (including LEAP) had been signed with special-purpose companies owned by the International Company for Water and Power Projects (ACWA Power Company) (Note 2) to implement two 500-MW wind power projects in Bukhara Region in the Republic of Uzbekistan. The total invested through LEAP was $87 million.
Uzbekistan is heavily reliant on fossil fuels, with most of its electricity supplied by natural gas, which has a high adverse environmental impact. These projects will increase the country's clean-energy electricity supply and reduce CO2 emissions through the construction of new wind power facilities with a total capacity of 1 GW—which will be the largest of their kind in Central Asia. By doing so, they will contribute to SDGs (Sustainable Development Goals) Goals 7 (Affordable and clean energy), 13 (Climate action), and 17 (Partnerships for the goals).
The sponsor, ACWA Power, is a regional leader in renewable energy based in the Middle East. The company was established in 2008 and is a developer, investor, and operator of power-generation and desalination plants. The projects are expected to be landmark transactions that will serve as a model case for private sector participation across the energy sector in Uzbekistan.
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