Within the project “Modernization of Tashkent heating power station”, it is planned to install of combined-cycle plant with the capacity of 370 megawatt. The project cost is US$463.5 million. German company will buy certified emission reductions from the Uzbek side.

The project will allow to cut emission of carbon dioxide (CO2) by 420,000 tonnes annually. The funds received from sale of certified emission reductions, will be directed to finance reconstruction of the Tashkent heating power station.

Japan Bank for International Cooperation issued loan for US$274.4 million to realize this project. Fund for Reconstruction and Development of Uzbekistan issued US$76.2 million and the Uzbek banks allocated US$36 million. Uzbekenergo will direct US$76.9 million to project implementation.

Tashkent heating power station, located at northern-eastern part of Tashkent city, designed for production of electricity. The capacity of the station is 1,860 megawatt. The first energy block at the station was installed in 1963 and the last (12th) in 1971.