Voltalia has finalized financing agreements with the European Bank for Reconstruction and Development (EBRD) to support its 126-MW Sarimay solar project in Uzbekistan.
The funding package totals up to USD 54.6 million, comprising a senior loan of USD 44.8 million and a special VAT facility of EUR 9 million (USD 9.8 million).
Additionally, the project is backed by a USD 7 million senior loan tranche guarantee from the European Union's European Fund for Sustainable Development Plus.
Voltalia CEO Sébastien Clerc commented, “Voltalia is proud to announce the financing agreement for the Sarimay Solar power plant in Uzbekistan. I sincerely thank our long-standing partner, the European Bank for Reconstruction and Development, for its support in achieving this milestone.” He added, “In addition to the Sarimay Solar project, Voltalia is also engaged in several other renewable energy and battery storage projects in Uzbekistan. These initiatives reflect our commitment to driving sustainability and providing green energy solutions across the country.”
Set to begin operations in the latter half of 2025, the Sarimay solar facility operates under a 25-year power purchase agreement.
Voltalia enlisted Cranmore Partners as its exclusive financial advisor for the project's financing structure and negotiation, while Herbert Smith Freehills and Kosta Legal provided legal counsel for international and local law documents, respectively. The EBRD was advised by Trinity and Centil.
