Synergy Consulting, Inc. is honored and delighted to receive the “PPP Deal of the Year – Power – APAC” award at the IJGlobal Awards for the “Syrdarya 2 CCGT Project, Uzbekistan“.
The award ceremony took place in Singapore on April 17, 2024.
Synergy Consulting, Inc. acted as the Financial Advisor to the consortium of EDF, Nebras Power, Sojitz Corporation, and Kyuden International for the bid of ~1,580 MW gas-fired combined cycle power plant south of Tashkent of Syrdarya region in Uzbekistan.
The ~USD 1 Billion greenfield project’s financing structure includes three tranches, with a diverse lender group comprising international banks, ECAs, and DFIs.
This Project marks many firsts, including:
★ First competitive bid for a thermal IPP in Uzbekistan;
★ First deal in Asia wherein JBIC and IFC have both provided financing (in addition to the commercial banks); and
★ First deal in Asia wherein NEXI and IFC have co-financed on the same deal.
Considering the size of the Project, the credit rating of Uzbekistan and the growing concerns around carbon footprint of conventional power plants; there were significant challenges in achieving the Financial Close for this transaction.
This landmark Project is expected to serve as a model for bankable and sustainable IPPs and build confidence for future projects in Uzbekistan.
The successful implementation of the Project is expected to yield, inter-alia, the following benefits to the stakeholders:
★ The plant will provide more efficient and cost-competitive electricity to more than 3 million people, meeting an estimated 17% of demand and comprising 9.5% of installed power capacity when complete;
★ With an expected efficiency rating of over 60%, it will be twice as efficient as current production and avoid up to 2.8 million tons of greenhouse gas emissions annually by displacing aging plants, and contribute to the country’s goal to achieve carbon neutrality;
★ The plant will provide grid stabilization for the regional grid allowing for higher renewable integration and reduced water usage as compared to similar gas fired power plants.
Synergy is committed to supporting clients in conceptualizing and further developing such strategically important Projects in APAC, MENA, and other regions.
Synergy partners with private sector and Govt. agencies, working towards achieving the aspirations of countries to develop renewable energy with all our clients on the shared goal of Environmental & Social Governance.
Synergy is thankful to IJGlobal and expresses gratitude for this recognition and prestigious award.
Synergy thanks all stakeholders, our clients and financial and private participants, for their continued support and trust for making Synergy the Partner of Choice.
Read the full article here: https://lnkd.in/gfrjiQH3
Arabic 
English 
Spanish 
Russian 
French