Financing received for 500 MW Onshore wind farm in Uzbekistan

International Finance Corporation (IFC) has finalized an agreement to finance the 500 MW Zarafshon onshore wind project located in the Navoi region, Uzbekistan.

The US$825 million wind facility being developed by Masdar will consist of 111 wind turbine generators (WTGs), each with a capacity of up to 4.5 MW. It has the capacity to generate enough energy to power  500,000 homes while preventing the release of more than 1 million tons of carbon dioxide per year.

The Zarafshon project has received a US$42 million loan from IFC and US$52 million from the Japan International Cooperation Agency and the Dutch Entrepreneurial Development Bank (FMO). Further parallel loans will be provided by the European Bank for Reconstruction and Development, Asian Development Bank, Natixis, and First Abu Dhabi Bank.