Tashkent, Uzbekistan (UzDaily.com) -- The Saudi Arabian company ACWA Power intends to attract loan funds from the European Bank for Reconstruction and Development (EBRD) to implement a renewable energy project in Tashkent region of Uzbekistan.

ACWA Power plans to build a 200 MW solar power plant and 500 MW per hour energy storage systems. The total cost of the project is US$546.33 million.

The Saudi company plans to attract a loan from the EBRD in the amount of US$140 million to implement this project.

The loan is planned to be raised through ACWA Power Riverside Solar. This company was created in Uzbekistan to implement this project.

It should be noted that ACWA Power is taking part in the implementation of several projects in the field of creating wind and solar power plants in Uzbekistan.