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World Bank to allocate $200 million for energy-saving technologies in Uzbekistan

12 December 2017 13:25 (UTC+04:00)
World Bank to allocate $200 million for energy-saving technologies in Uzbekistan

By Kamila Aliyeva

The World Bank has authorized the preparation of additional funding of $200 million for the implementation of the project to increase the energy efficiency of industrial enterprises in Uzbekistan.

The document will be submitted for approval by the Board of Directors in January 2018, the Uzbek Evonomy Ministry reported.

The project envisages the development of energy efficiency potential in the private sector and the allocation of loans to industrial enterprises that will cover the costs of energy systems and technological processes.

The project to increase the energy efficiency of industrial enterprises in Uzbekistan is implemented with the participation of the International Development Association (IDA).

Crediting will be carried out in accordance with the presidential decree “On measures to further expand financial cooperation with the World Bank.”

The document approved a plan of measures for the implementation of investment projects with the participation of the World Bank for 2016-2020.

The World Bank currently supports the implementation of 16 projects, which are worth of around $2 billion, in Uzbekistan. Those projects cover such priority areas as agriculture and water resources management, energy, transport, healthcare, education, urban development, water supply and sanitation.

Uzbekistan enjoys vast potential in renewable energy, and 98.5 percent is solar energy, 320 sunny days per year. The World Bank estimates that Uzbekistan solar total potential is more than about 51 billion tons of oil energy, which cannot only save a lot of oil resources, but also improve the atmospheric environment.

The country adopted the program on the development of alternative energy sources in 2013.

In particular, construction of the several solar power plants with total capacity of more than two gigawatts, creation of the International Institute for Solar Energy and the construction of the facility on the photovoltaic panel production with the capacity of 100 megawatts is planned within the framework of the program.

Currently, oil and gas account for 97 percent, coal - 2.3 percent and hydropower - 0.7 percent in the structure of primary energy resources of Uzbekistan.

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Kamila Aliyeva is AzerNews’ staff journalist, follow her on Twitter: @Kami_Aliyeva

Follow us on Twitter @AzerNewsAz

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