EBRD considers USD-80m loan for AMEA-led battery project in Uzbekistan

The European Bank for Reconstruction and Development (EBRD) is considering lending USD 80 million (EUR 68.0m) to support the development, construction and operation of a 150-MW/300-MWh battery energy storage system (BESS) project in Uzbekistan.

If approved, the senior loan will be provided to the special vehicle established for the project’s implementation, Celest FE LLC. Dubai-based renewables company AMEA Power acts as the sponsor for the project.

The EBRD has set a February 11, 2026, deadline for a ruling on the transaction.

Located in the Tashkent region, the facility will provide ancillary support to the local grid and help mitigate the intermittence constraints of renewable capacity. The overall cost of the project is estimated at USD 100 million.

Established in 2016, AMEA Power has more than 2.6 GW of clean energy projects currently in operation or under construction across Africa, the Middle East, and Asia.

The company is well-acquainted with the Uzbek market. At the beginning of the year, it signed separate investment agreements for a 1-GW wind project and a 300-MWh BESS as part of its strategy to expand into the country and the Central Asian region.