BAKU, Azerbaijan, Aug. 25
By Ilkin Seyfaddini – Trend:
Ministry of Uzbekistan and French Development Agency (AFD) signed a loan agreement for 55.8 million euros, Trend reports citing the Ministry of Energy of Uzbekistan.
Of this amount, 46.5 million euros will be allocated for the construction of three new hydroelectric power plants, and 9.3 million euros for improving the safety of the Charvak Hydro power plant (total project cost - 33.95 million euros).
Within the framework of investment projects it is planned to perform construction and installation work for the amount of 11.1 million euros and supply of technological equipment in the amount of 26.9 million euros. New small hydropower plants are planned to be put into operation in 2023.
“Implementation of the project will allow producing 51.2 million kW per hour of cheap and environmentally friendly electricity, create 15 jobs, increase the share of hydro power and save fuel resources,” the report says.
The hydropower industry is developing on the basis of the program approved by the president in May 2017. According to the program, a mechanism of the Project Factory has been introduced for continuous launch of new projects.
This year the total cost of the Project Factory is $1.5 billion. There are 23 investment projects with the capacity of 907.5 MW at the stage of preparation.
"In addition to AFD funds, the projects will attract $60 million from the Asian Development Bank (ADB) and 80 million euros from the European Bank for Reconstruction and Development (EBRD), as well as direct investments through public-private partnerships," the message said.
According to the Ministry, this year, 10 projects worth $1.5 billion are being implemented under the Investment Program with $500 million loan from financial institutions of China and Russia.
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