JBIC to Provide $1.45 Bn for Renewable Energy Projects in Uzbekistan
The Japan Bank for International Cooperation (JBIC) is preparing a joint financing package worth around $1.45 bn to support renewable energy development in Uzbekistan, Nikkei reports. The initiative is part of Tokyo’s broader effort to strengthen its economic and strategic presence in Central Asia.
The funds will be directed toward the construction of two integrated complexes combining solar power generation and energy storage systems near Samarkand. With a combined capacity of 1,000 MW, the facilities are set to become among the largest renewable energy projects in Uzbekistan.
International Consortium to Lead the Project
The project is led by a multinational consortium that includes:
- ACWA Power (Saudi Arabia) – holding a 51% stake
- Sumitomo Corporation (Japan)
- Chubu Electric Power and Shikoku Electric Power
JBIC will contribute $635 mln, making it the largest lender in the consortium. Additional funding will come from Sumitomo Mitsui Banking Corporation and Norinchukin Bank, while Nippon Export and Investment Insurance (NEXI) will provide risk coverage.
Kursiv also reports that since January 2025, Uzbekistan’s solar and wind power stations have produced 9 bn kWh of electricity.
