First of its kind financing agreement paves way for Uzbekistan’s digital transformation
DataVolt, a global leader in the development of large-scale data centers and integrated infrastructure solutions, has announced it has secured a non-recourse project financing of up to US$ 150mn from a group of Development Financing Institutions to support the development and long-term operation of its 12MW green data center in Tashkent, Uzbekistan.
Landmark financing will fund the facility known as TAS-1, which is expected to be one of Central Asia’s largest AI-ready green data centers once it becomes operational in late 2026.
The financing consortium comprises four international financial institutions, namely DEG, the European Bank for Reconstruction and Development (EBRD), OPEC Fund for International Development and Proparco, with the investment set to support the ongoing digital transformation of Uzbekistan.
Catalyst
Beyond infrastructure, the project acts as a catalyst for building a future-ready digital ecosystem in Uzbekistan, combining world-class data center capabilities with investments in human capital and local talent development.
“This financing marks an important milestone in our journey to support Uzbekistan’s digital transformation and ensure the country is well placed to leverage the opportunity offered by the AI economy. Importantly, TAS-1 is not just an infrastructure investment, it is a platform to develop local capabilities, foster innovation, and contribute to the creation of a digitally skilled workforce that can power Uzbekistan’s long-term growth,” explained Rajit Nanda, CEO, DataVolt.
“DEG’s mandate is to advance sustainable development in partnership with the private sector. DataVolt is developing a new AI-ready data center that has an ambition to operate largely on renewable energy sourced from the local grid in Uzbekistan,” commented Monika Beck, member of DEG’s Management Board.
Digital infrastructure
“The financing will mark a significant step in expanding the digital infrastructure capacity of Central Asia’s most populous state, improving data management, analytics and digital services for businesses ranging from agricultural producers and processors to manufacturing companies,” noted Holger Muent, EBRD Director of Telecommunications, Media and Technology.
Uzbekistan’s digital transformation is creating new opportunities for economic diversification, innovation and private sector growth. Expanding modern digital infrastructure is essential to sustain this momentum, improve access to technology-enabled services and strengthen the country’s competitiveness,” commented Khalid Khadduri, OPEC Fund Vice President, Private Sector.
“By combining digitalization, energy efficiency, and high environmental and social standards, the project contributes to the country’s 2030 ambitions,” commented Anne Gautier, Head of Energy and Telecom for Asia and Latin America, Proparco.
