DataVolt Secures Up To usd 150m Of Non-Recourse Financing For One Of Central Asia’s Largest Ai Ready Data Centers

Riyadh – Asdaf News:

DataVolt, a global leader in the development of large-scale data centers and integrated infrastructure solutions, today announced it has secured a non-recourse project financing of up to USD 150 million from a group of Development Financing Institutions to support the development and long-term operation of its 12MW green data center in Tashkent, Uzbekistan. This 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. The 12- year non-recourse project financing comes against the backdrop of growing demand for digital infrastructure in the region and supports the Government’s ‘Digital Uzbekistan – 2030 Strategy’ that sets an ambition to grow the market for AI products and services to USD 1.5bn by 2030[1].

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. In alignment with the country’s national vision to position Uzbekistan as a regional digital hub, DataVolt has partnered with Shirin College and launched a dedicated two-year diploma program focused on developing the next generation of data center and digital infrastructure professionals. This initiative reflects a broader commitment, aligned with the leadership vision of the Republic of Uzbekistan, to ensure that the growth of digital infrastructure is matched by the development of skilled local talent, enabling sustainable participation in the global AI and digital economy.

Rajit Nanda, the CEO of DataVolt said, “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. We are grateful to DEG, EBRD, OPEC Fund and Proparco for sharing our vision to bring world class digital infrastructure to this thriving data center market.”

“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. DEG supports the promotion of green digital infrastructure under the Digital Uzbekistan 2030 Strategy,” commented Monika Beck, member of DEG’s Management Board.

Holger Muent, EBRD Director of Telecommunications, Media and Technology, added, “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”.

Khalid Khadduri, OPEC Fund Vice President, Private Sector said: “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. The OPEC Fund is pleased to support a project that will help accelerate this transition through long-term private investment while also serving as the project’s financial model bank.”

“This investment marks a significant milestone for Proparco in Uzbekistan as our first data center project in the country. It reflects our strong commitment to supporting Uzbekistan’s economic transformation through sustainable digital infrastructure. 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.

[1] President of Uzbekistan Decree No. PQ-358, https://gov.uz/en/digital/news/view/24510