The European Bank for Reconstruction and Development (EBRD) has provided US$142 million in financing for the construction of a 1GW solar and 1.3GWh battery energy storage system (BESS) portfolio in Uzbekistan.

The portfolio consists of two solar and storage projects through a special-purpose vehicle (SPV) that will be majority owned by Saudi developer ACWA Power and co-owned by Japanese investors Sumitomo Corporation, Shikoku Electric Power Company and Chubu Electric Power Company.