As Lead Transaction & Financial Advisor, Synergy provided comprehensive support for raising ~ Euro 1.25B for the project, including:
- End-to-end project management
- Market sounding for debt & equity investors
- Financial model development and management
- Negotiation & finalization of project and financing agreements
- Support in placement of long-term hedges
Developed under a DBFOOT model, the project achieved Financial Close in March 2024 and first debt drawdown in December 2024, despite navigating complex insurance, geopolitical, transport/sanctions, and sector-specific challenges.
With a 25-year concession period, the project is on track for commissioning in Q3 2027, and once operational, will be among Central Asia’s most advanced and efficient power facilities featuring:
- HL-class gas turbines with >64% efficiency
- Designed to operate on up to 50% hydrogen, enabling future decarbonization
- Fully aligned with Uzbekistan’s energy transition goals to replace aging thermal IPPs
This pioneering project combines Conventional & Islamic financing, ECA support, and is the first of its kind in Uzbekistan.
This landmark project highlights Synergy Consulting’s strong track record in mobilizing financing for large-scale, complex infrastructure developments — even in a highly adverse financing environment with multiple CCGT and infrastructure projects underway in the region.
At Synergy, we remain committed to enabling strategically significant projects across and beyond the APAC region, helping our clients turn vision into reality.
Synergy thanks IJ Global and expresses gratitude for this recognition.
Synergy thanks all stakeholders, including our clients and financial institutions and government participants, for their continued support and trust for making Synergy the Partner of Choice.
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