Dentons advises Datavolt on up to USD 150 million non-recourse landmark project financing for one of Central Asia’s largest AI-ready data centers

Uzbekistan-Dentons acted as Uzbek legal counsel to DataVolt, a global leader in the development of large-scale data centers and integrated infrastructure solutions, in connection with a non-recourse project financing of up to USD 150 million from a consortium of Development Finance Institutions comprising DEG, the European Bank for Reconstruction and Development (EBRD), OPEC Fund for International Development, and Proparco. The financing will support the development and long-term operation of DataVolt's 12MW green data center facility known as TAS-1 in Tashkent, Uzbekistan, which is expected to be one of Central Asia's largest AI-ready green data centers once operational in late 2026.

The 12-year non-recourse project financing represents the first transaction of its kind in Uzbekistan and a landmark milestone in the country's digital transformation. The investment supports the Government's 'Digital Uzbekistan - 2030 Strategy' and comes against the backdrop of growing demand for digital infrastructure in the region. Located within Tashkent's IT Park, TAS-1 will provide 12 MW of IT capacity with enterprise-grade reliability, designed to support liquid cooling for high-density cloud and AI workloads alongside enterprise IT deployments.

Tashkent-based partner Ulugbek Abdullaev led Dentons' legal team, with support from Associate Laylo Mardieva.

Dentons provided comprehensive Uzbek law advice, covering questions related to legal considerations pertaining to the non-recourse project financing, lender legal due diligence queries, and matters related to financing documents.

Ulugbek Abdullaev, Partner at Dentons, commented, "This transaction underscores Dentons' commitment to supporting transformative infrastructure investments in Uzbekistan. The financing represents a significant step in the country's digital development and demonstrates the growing confidence of international financial institutions in Uzbekistan's investment landscape. We are proud to have advised DataVolt on this pioneering project, which will contribute meaningfully to the country's ambition to become a regional digital hub."

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