Tashkent, Uzbekistan, November 19, 2021— Consortium EDF – Nebras Power – Sojitz Corporation was announced today as the winning bidder following an international tender for a 1,200–1,600-megawatt combined cycle gas turbine power plant to be built in Uzbekistan's Syrdarya region.
The high-efficiency thermal power plant is part of the energy transition that will help modernize Uzbekistan's power infrastructure, improve the supply of electricity, and allow the country to significantly decrease its usage of natural gas for generation purposes. IFC has advised the Government of Uzbekistan on the structuring and implementation of a public-private partnership (PPP) and assisted in the competitive international tender for the project. The program is being implemented in partnership with the Global Infrastructure Facility.
Consortium EDF – Nebras Power – Sojitz Corporation was awarded the project based on the lowest levelized cost of electricity, which besides the proposed tariffs, which considers the efficiency factor of the thermal power plant. A company to be created by the winning bidder will enter a 25-year power purchase agreement with the National Electric Grid of Uzbekistan to design, finance, build, operate, and maintain the thermal power plant.
"The construction of the new plant is an essential part of the approved Generation Masterplan of the Republic of Uzbekistan," Shukhrat Vafaev, Deputy Minister of Investments and Foreign Trade. "The project will help to tackle the current challenges faced by Uzbekistan's power sector. The successful implementation of this PPP will increase the stability of electricity supply and further ensure the efficient use of scarce natural resources."
The new Syrdarya CCGT thermal power plant will have almost two times higher efficiency compared to the old generation fleet, resulting in more efficient usage of natural gas and decreased CO2 emissions.
Wiebke Schloemer, IFC Director for Europe, Turkey and Central Asia, said, "Uzbekistan requires significant power generation and distribution infrastructure to serve its rising demand for energy. This project demonstrates that private capital can be mobilized on a large scale to contribute to the country's energy security. Developing modern and efficient gas-fired plants will reduce the use of gas compared to existing gas-fired plants, thus significantly contributing to the reduction of carbon emissions."
The tender received three price proposals from reputable international players. Besides the winning bidder, International Company for Water and Power Projects (ACWA Power International) and Powerchina Resources Ltd provided bids.
Since 2018, IFC has been advising the government of Uzbekistan on attracting private investments in the energy sector. This project is the third competitive tender in the energy sector completed by the government of Uzbekistan in partnership with IFC.
The Global Infrastructure Facility (GIF), a G20 initiative, is a global collaboration platform that integrates efforts to boost private investment in sustainable, quality infrastructure projects in developing countries and emerging markets. GIF enables collective action among a wide range of partners – including donors, development finance institutions, country governments, with inputs of private sector investors and financiers – to leverage resources and expertise and find solutions to build bankable pipelines of infrastructure projects that attract private financing.
IFC—a member of the World Bank Group—is the largest global development institution focused on the private sector in emerging markets. We work in more than 100 countries, using our capital, expertise, and influence to create markets and opportunities in developing countries. In fiscal year 2021, IFC committed a record $31.5 billion to private companies and financial institutions in developing countries, leveraging the power of the private sector to end extreme poverty and boost shared prosperity as economies grapple with the impacts of the COVID-19 pandemic. For more information, visit www.ifc.org.