Tashkent, Uzbekistan — DataVolt, a global leader in the design, construction, and operation of large-scale data centers, has taken a major strategic step to bolster the digital infrastructure of Central Asia. The company has successfully secured non-recourse project financing of up to $150 million to develop a state-of-the-art infrastructure facility in Uzbekistan’s capital.
This landmark transaction represents a brand-new precedent for the country’s digital industry, signaling a mature market and growing confidence among leading international development finance institutions in Uzbekistan’s investment potential. The international law firm Dentons acted as DataVolt’s legal counsel for Uzbek law throughout the transaction.
Financial terms
The financial backing for this ambitious digital infrastructure project is provided by a powerful consortium of international development finance institutions, which includes:
- The European Bank for Reconstruction and Development (EBRD)
- DEG (German Investment Corporation)
- The OPEC Fund for International Development
- Proparco (French Development Agency)
The long-term financing facility spans a maturity period of 12 years. The non-recourse project financing structure underscores the high commercial viability of the venture, as the lenders will rely solely on the cash flows generated by the project itself for debt servicing.
Technical specifications and innovations of the TAS-1 facility
The newly raised capital will be fully deployed to fund the construction and subsequent operational phases of the new technological hub, dubbed the TAS-1 data center. The facility is being built on the premises of the IT Park in Tashkent, with commissioning scheduled for the end of 2026.
Key metrics of the project:
- Project name: TAS-1 Data Center
- Location: IT Park, Tashkent, Uzbekistan
- Design capacity: 12 MW
- Target launch: Late 2026
- Total financing: Up to $150 million
- Core highlight: One of Central Asia’s largest environmentally friendly (“green”) data centers equipped with Artificial Intelligence (AI) support.
- Technological equipment: High-performance liquid cooling systems optimized for intensive cloud computing and enterprise IT infrastructure.
By integrating cutting-edge engineering solutions, TAS-1 is poised to handle the colossal computing workloads generated by modern AI algorithms and heavy corporate IT ecosystems while maintaining a strictly eco-friendly blueprint.
The TAS-1 project aligns with the national government strategy, “Digital Uzbekistan — 2030,” amid a skyrocketing regional demand for modern digital capacity and data storage.
The legal structuring of the transaction was successfully managed by Dentons. The firm’s legal team was led by Ulugbek Abdullaev, Partner at the Tashkent office, with key support from Associate Laylo Mardieva. The experts at Dentons structured the financing facility, navigated the rigorous due diligence processes required by the lenders, and spearheaded the drafting of the financial documentation.
“This financing is a monumental step forward for the development of the country’s digital economy and clearly reflects the expanding trust that international financial institutions place in Uzbekistan’s investment climate,” stated Ulugbek Abdullaev.
The new data center will lay a solid foundation for further technological modernization across Uzbekistan’s economy, drastically improving the quality of digital services for the entire Central Asian region.
Source: uzdaily.uz
