ADB, ACWA Power to Build Central Asia’s First Wind Power Plant with Battery Energy Storage

The Asian Development Bank (ADB) and ACWA Power Company (ACWA Power) signed a $51 million loan package to build the Nukus 2 Wind and Battery Energy Storage facility in Uzbekistan’s Qoraozak district in the Republic of Karakalpakstan. The project will be implemented by ACWA Power Beruniy Wind FE LLC, which is fully owned by ACWA Power. This project is Central Asia’s first wind power facility with a utility-scale battery energy storage system.

The financing package includes $25.4 million from ADB’s ordinary capital resources and $25.4 million from the Leading Asia’s Private Infrastructure Fund 2, administered by ADB. The Asian Infrastructure Investment Bank (AIIB), Dutch Entrepreneurial Development Bank (FMO), Standard Chartered Bank, and Saudi EXIM are parallel lenders.

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