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ADB can provide US$90m loan to solar project in Uzbekistan

19 November 2012

http://www.uzdaily.com of 11/19/2012 - The Asian Development Bank (ADB) can issue a loan for US$90 million to construction of solar power station in Uzbekistan.

It is expected that the loan will be issued due to resources of the Asian Development Fund. The bank can consider allocation of funds in the end of 2013.

As reported earlier, Russian oil company Lukoil prepared preliminary project on construction of solar power station in Uzbekistan with estimated cost of about 250 million euros.

Lukiol developed a proposal on construction of solar power station with the capacity of 100 megawatt in Navoi city.

In the end of 2011, the company developed preliminary project of solar power station with estimated construction price of about 250 million euros. The company said that after the governmental approval, the detailed project will be developed.

Uzbekistan has great potential for development of alternative energy. Uzbekistan has more than 300 sunny days, which can be used effectively.

According to some calculations, opportunity of renewable energy in Uzbekistan can be equal to 51 billion tonnes of oil. Current technologies will allow Uzbekistan to produce energy equal to 179 million tonnes, which exceeds the volume of produced energy in Uzbekistan three times and allows to cut emission of 447 million tonnes of carbonic acid gases, various sulphureous compounds, nitric oxide, etc.