ACWA Power signs financing package for gas power project in Uzbekistan

07 Apr 2021

ACWA Power, a leading developer, investor and operator of power generation and desalinated water plants in 13 countries, has announced the successful financial closure for the development, construction and operation of the 1,500MW Syrdarya Combined Cycle Gas Turbine (CCGT) power plant in Uzbekistan.

A syndicate of seven international lenders will provide US$750m senior debt for the US$1bn 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.

The project will provide cleaner, more efficient and cost-competitive gas power that can be utilised across industries in Uzbekistan. On completion, it is expected to meet 15% of power demand in Uzbekistan and comprise eight percent of all installed power capacity.

For more information please visit EICDataStream.

Read more from Industry News
Statkraft to build its first wind farms in Chile
Read More
McDermott completes engineering for two expandable hydrogen facilities
Read More
Aramco signs US$12.4bn infrastructure investment deal with EIG-led consortium
Read More

Newsletter Sign Up

As a non-member, you can sign up for the EICOnline weekly bulletin free of charge. EIC Online delivers industry news direct to your mailbox. Subscribe here for the EIC’s free weekly newsletter.

First Name
Last Name
Company Name
Job Title
Areas of Interest

Thank you for your submission!

We will contact you shortly.