Low bidder revealed for Uzbekistan's Sirdarya 2 IPP

Written by Andrew Roscoe
21 Nov 2021
Low bidder revealed for Uzbekistan's Sirdarya 2 IPP

A consortium of France’s EDF, Qatar’s Nebras Power and Japan’s Sojitz Corporation submitted the lowest proposal for a planned 1,200MW-1,600MW thermal power plant in the Syrdarya region of Uzbekistan

  A consortium of France’s EDF, Qatar’s Nebras Power and Japan’s Sojitz Corporation submitted the lowest proposal for a planned 1,200MW-1,600MW thermal power plant in the Syrdarya region of Uzbekistan.

The thermal power plant, Syrdarya 2, will be developed under the independent power producer (IPP) model.

The consortium submitted a bid of $33.68/MWh, more than a $1c/MWh than the second lowest bid of $34.71/MWh submitted by PowerChina Resources.

Saudi Arabia’s Acwa Power submitted the third lowest proposal of $36.18/MWh.

The project is the second IPP being developed in the Syrdarya region.

Energy & Utilities reported in April this year that Acwa Power had reached financial close for the $1bn Sirdarya combined-cycle gas turbine IPP project in Uzbekistan, which includes $750m of senior debt from seven international lenders.

The syndicate of international lenders for the project includes the European Bank for Reconstruction and Development (EBRD), German Investment Corporation (DEG), Standard Chartered, Natixis, Societie Generale, the OPEC Fund for International Development and the Bank of China.

The commercial banks are providing funding on the back of a Multilateral Investment Guarantee Agency (MIGA) four-point cover.

Once completed, the 1.5GW Sirdarya IPP is expected to meet 15 per cent of Uzbekistan’s power demand and will form 8 per cent of the country’s total power capacity.

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