EBRD Considers US$80 Million Loan for Battery Energy Storage Project in Uzbekistan

Tashkent, Uzbekistan (UzDaily.com) — The European Bank for Reconstruction and Development (EBRD) is exploring the possibility of providing an US$80 million (€68 million) loan to support the development, construction, and operation of a battery energy storage system (BESS) in Uzbekistan. The project envisions a 150 MW installation with a total capacity of 300 MWh and is estimated at US$100 million.

If approved, the senior loan will be granted to a special project company, Celest FE LLC, established specifically to implement the project. The sponsor is Dubai-based renewable energy firm AMEA Power. The EBRD aims to make a final financing decision by 11 February 2026.

The facility is planned to be located in the Tashkent region and will provide ancillary services to the national power system, helping to mitigate the variable output of renewable energy sources while enhancing the stability and reliability of electricity supply.

Founded in 2016, AMEA Power has developed and constructed clean energy projects with a combined capacity exceeding 2.6 GW across Africa, the Middle East, and Asia. The company is already active in the Uzbek market, having signed earlier this year investment agreements for a 1 GW wind power plant and a 300 MWh energy storage system, aligning with its strategy to expand its presence in Central Asia.