Saudi-listed Acwa has signed $226 million of financing agreements for the Bash II 300 megawatt (MW) Wind Farm in Uzbekistan at the 2026 Asian Development Bank (ADB) Annual Meeting.
The agreements were executed with three leading international lenders, including the Asian Development Bank (ADB), the Asian Infrastructure Investment Bank (AIIB), and Standard Chartered Bank (SCB). The total $226 million in senior debt financing represents more than two-thirds of the project’s total cost.
Commenting on the signings, Dr. Samir J Serhan, Chief Executive Officer of Acwa, said that, “Bringing ADB, AIIB and Standard Chartered behind a single project in Central Asia is not routine – it reflects years of delivery on the ground and real confidence in Uzbekistan’s reform trajectory. Bash II will put 300 MW of clean power into a grid that needs it, serving hundreds of thousands of households for the next 25 years. This is what long-term commitment to a market looks like in practice.”
Underpinned by a 25-year power purchase agreement with the National Electric Grid of Uzbekistan (NEGU), Bash II is expected to commence commercial operations in the second half of 2027. Once operational, it will supply electricity to more than 336,000 households and is expected to avoid approximately 475,000 tonnes of CO₂ emissions annually, supporting Uzbekistan’s efforts to meet its 2030 energy mix targets.
The financing package reflects strong lender confidence in Uzbekistan’s power sector reforms, the project’s economics, and Acwa’s delivery record across Central Asia, where the company is one of the region’s largest private investors in renewable generation, water, and green hydrogen, as per the statement.
