ACWA Power signs financing package for USD1 billion gas power project in Uzbekistan
1500 MW Sirdarya CCGT plant to provide cleaner, more efficient and cost-competitive gas power that can be utilised across industries in Uzbekistan and is expected to meet 15 percent of power demand in Uzbekistan
Syndicate of seven international lenders to provide USD750 million senior debt for the project
Riyadh, KSA, 01 April 2021: ACWA Power, a leading developer, investor and operator of power generation and desalinated water plants in thirteen countries, has announced the successful financial closure for the development, construction and operation of the 1500 MW Sirdarya Combined Cycle Gas-Turbine (CCGT) power plant in Uzbekistan.
A syndicate of seven international lenders will provide USD750 million senior debt for the USD1 billion project. The mandated lead entities – including the European Bank for Reconstruction and Development (EBRD), German Investment Corporation (DEG), Standard Chartered, Natixis, Société Générale, the OPEC Fund for International Development, and the Bank of China – helped structure the project finance debt.
The commercial banks are providing funding on the back of a Multilateral Investment Guarantee Agency four-point cover.
Source: ACWA Power
