Ipoteka Bank OTP Group and ACWA Power: Investing in Clean Energy — A Contribution to Economic Growth and Environmental Sustainability in Uzbekistan

Ipoteka Bank OTP Group reaffirms its commitment to advancing sustainable energy and supporting environmentally responsible investments by becoming a key lender for two major wind projects implemented by ACWA Power in the Bukhara region. These projects align with Uzbekistan’s ambitious renewable energy strategy and actively promote the country’s economic growth.

Innovation and Sustainability as Drivers of Economic Progress

The Bash Wind and Dzhankeldy Wind projects, with a combined capacity of 1000 MW, are among the largest wind farms in Central Asia. With an expected annual generation of 3.3 TWh of clean energy, these facilities will make a significant contribution toward the national target of increasing the share of renewable energy sources (RES) in the country’s energy mix to 25% by 2030.

Ipoteka Bank OTP Group, acting as the sole lender providing financing of $20 million per project, reinforces its role as a financial institution actively supporting Uzbekistan’s transition to a green economy. In partnership with the international company ACWA Power from Saudi Arabia, the bank supports state-of-the-art technology — advanced Envision wind turbines and comprehensive maintenance services by NOMAC, ensuring the reliability and efficiency of the power plants.

The implementation of Bash Wind and Dzhankeldy Wind projects creates new jobs, fosters infrastructure development, and attracts international investments, thereby driving sustainable economic growth in Uzbekistan. Furthermore, these projects meet high ESG standards and are classified as “green” projects, reducing the country’s carbon footprint and strengthening its position in the global energy market.

“Ipoteka Bank OTP Group is proud to contribute to the development of renewable energy in Uzbekistan by supporting innovative projects that not only drive economic growth but also build a sustainable future for our country,” said Sandro Rtveladze, CEO of Ipoteka Bank OTP Group.

These investments exemplify how strategic collaboration between financial institutions, the government, and international partners can foster sustainable development, innovation, and strengthen Uzbekistan’s economic potential. Ipoteka Bank will continue to actively support projects aimed at advancing green energy and fulfilling national priorities in ecology and economics, making a significant contribution to the future of the country and the region.