Sherabad solar PV plant

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The project involves the design, financing, construction, ownership, operation, and maintenance of the 457MW Sherabad solar photovoltaic independent power plant and its associated interconnection facilities. The plant situated in a 631-ha area around 20 km south-west from Sherabad in the Surkhandarya region, in the Republic of Uzbekistan and will be connected to the national grid by the 50.5 km 220kV new OHL to the nearest substation, in Jarkurgan. The project is sponsored by Masdar and is supported by a long-term PPAs with JSC National Electric Grid of Uzbekistan (NEGU). The facility will have a government assistance agreement, an investment agreement, a land agreement, and a land lease agreement. The total value of the project is $389.2 million and lenders are EBRD, EIB, ADB, AIIB, FMO and ILX Fund I. The EBRD released a loan of $69.4m. The ADB contribution was $36.7m. FMO loan was $6.13m, approved on Apr 19, 2023. ILX Fund I contribution for Sherabad is in the form of a B loan of $37.5m. The project also received a partial credit guarantee for $9.1m by ADB to support the tariff payment obligations of the National Electric Grid of Uzbekistan. EIB and AIIB contributed each with $83.6m, but these loans will be attributed to the construction of three Masdar plants, not only to Sherabad. AIIB has provided another loan of $145m, approved on March 24, 2023, for the three Masdar plants. Except for the the loan of 69.4m for Sherabad, the EBRD provided $109m of A loans and $78m of revolving loans, concerning the three plants. (23.02.2023) Financial close was achieved on 4 April, 2023. https://www.theasset.com/article/48958/aiib-adb-team-up-on-loans-for-masdar-solar-plants-in-uzbekistan ; https://www.aiib.org/en/projects/details/2023/approved/Uzbekistan-Masdar-897MW-Solar-PV-Portfolio-Samarkand-Jizzakh-and-Sherabad-solar-PV-plants.html ; https://ewsdata.rightsindevelopment.org/projects/FMO-62049/ ; https://www.ebrd.com/news/2023/ebrd-finances-close-to-900-mw-of-renewable-capacity-in-uzbekistan.html ; https://www.aiib.org/en/projects/details/2023/_download/uzbekistan/AIIB-PSI-P000677-Uzbekistan-Masdar-896MW-Solar-PV-Facility-final_disclosure-post-approval-CLEAN.pdf ; https://www.mercomindia.com/masdars-900-uzbekistan-reach-financial-closure https://www.aiib.org/en/news-events/news/2023/AIIB-Supports-Masdars-Solar-Power-Projects-in-Uzbekistan.html https://news.masdar.ae/en/News/2023/04/06/06/21/Financial-Close-on-Three-Solar-Projects-in-Uzbekistan https://www.ebrd.com/news/2023/ebrd-finances-close-to-900-mw-of-renewable-capacity-in-uzbekistan.html https://www.adb.org/news/adb-masdar-unlock-uzbekistan-s-renewable-power-potential-3-new-solar-power-plants https://www.eib.org/en/press/all/2023-168-eib-approves-loan-of-usd83-6-million-for-uzbekistan-s-solar-programme-to-develop-photovoltaic-plants-with-the-region-s-largest-total-output https://www.fmo.nl/project-detail/62049 https://www.adb.org/projects/55101-001/main https://www.ebrd.com/work-with-us/projects/psd/52765.html