Through its investment in the Asian Infrastructure Partnership Trust Fund (LEAP) (Note 1), a trust fund managed by the Asian Development Bank (ADB), JICA is contributing to the promotion of the Japanese government’s vision of high-quality infrastructure partnerships.
ADB has recently signed a loan agreement totaling US$174 million with a special purpose company established by the sponsor, International Company for Water and Power Projects (ACWA Power Company) (Note 2), to implement two 500 MW wind power projects in Bukhara Province, Republic of Uzbekistan, using the LEAP. (ACWA Power Company) (Note 2) to implement two 500 MW wind power projects in the Bukhara region of the Republic of Bukhara, with a total loan amount of US$174 million. Of this amount, US$87 million will be provided through LEAP.
Uzbekistan is highly dependent on fossil fuels, and the majority of its electricity is supplied by natural gas, which has a high environmental impact. This project aims to increase the country’s clean energy power supply and reduce CO2 emissions by constructing a new wind power generation facility with a total capacity of 1 GW, the largest in the Central Asian region. (to take concrete measures to address climate change), and 17 (to achieve the goals through partnerships) of the Sustainable Development Goals (SDGs).
ACWA Power Company, the sponsor of this project, was established in 2008 and is one of the largest renewable energy power producers in the Middle East, developing, investing in, and operating power plants and desalination plants. This project is expected to serve as a model case for attracting private investment in the energy sector in Uzbekistan.
(Note 1) LEAP (Leading Asia’s Private Infrastructure Fund) is a trust fund of ADB mentioned in the follow-up measures of the “High Quality Infrastructure Partnership” announced by the Japanese government on November 21, 2015. The fund is a trust fund of the ADB. JICA has agreed to invest US$1.5 billion in LEAP in March 2016. LEAP supports a wide range of high-quality, sustainable private sector infrastructure projects in ADB member countries in the Asia-Pacific region, including greenhouse gas reduction, energy conservation, and affordable health services.
(Note 2) The company has 67 operations in 13 countries and its portfolio includes 43.4 GW of electricity and 6.4 million cubic meters/day of desalination capacity.
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