Muscat: ACWA Energy introduced the profitable monetary shut for the event, development and operation of the 1,500 MW Sirdarya Fuel-Turbine Mixed Cycle Energy Plant (CCGT) in Uzbekistan.

ACWA Energy is a number one developer, investor and operator of energy technology and desalinated water vegetation in 13 nations.

A syndicate of seven worldwide lenders will present US $ 750 million senior debt for the US $ 1 billion challenge. The principle mandated entities – together with the European Financial institution for Reconstruction and Improvement (EBRD), the German Funding Firm (DEG), Commonplace Chartered, Natixis, Société Générale, the OPEC Fund for Worldwide Improvement and the Financial institution from China – helped construction the financing of the challenge. debt. Industrial banks present finance by way of four-point protection from the Multilateral Funding Assure Company.

The challenge will present cleaner, extra environment friendly and extra economical fuel vitality that can be utilized in all industries in Uzbekistan. When accomplished, it’s anticipated to satisfy 15% of Uzbekistan’s electrical energy demand and symbolize 8% of all put in electrical energy capability.

The challenge’s real-time design, operation and monitoring construction is state-of-the-art, designed by international consultants to drive the ability technology course of across the clock, with the intention of making a steady stream to the nationwide electrical energy grid of Uzbekistan by way of the air-insulated switchyard, whereas offsetting 2.2 million tons of carbon dioxide emissions yearly.

“Sirdarya CCGT’s profitable monetary shut in a difficult working surroundings confirms the continued urge for food for public-private partnerships and inexperienced investments. It additionally displays the belief and credibility ACWA Energy enjoys inside the international monetary group, for which we now have strived to domesticate over 17 years of profitable operations, ”mentioned Paddy Padmanathan, President and CEO of ‘ACWA Energy.

“Strategically, this challenge is one other instance of our dedication to work with governments world wide to satisfy the rising demand for inexpensive electrical energy and water, and we’re proud to assist decarbonization efforts. of Uzbekistan and its vitality transition journey, ”he added.

“Given the present macroeconomic local weather, this announcement strengthens our confirmed structuring capabilities and the resilience of our lasting partnerships,” mentioned Rajit Nanda, Director of Portfolio Administration and Interim Director of Investments of ACWA Energy.

“We’re delighted with the well timed signing of a financing plan for the Sirdarya CCGT challenge, which permits us to assist the Republic of Uzbekistan present price efficient and vitality environment friendly vitality options for his or her resident communities,” he mentioned. -he provides.

Since its inception in 2004, ACWA Energy has grown quickly each nationally and internationally in keeping with its mission to ship electrical energy and desalinated water in a dependable and accountable method to assist social improvement and financial progress of countries. It has the acknowledged ambition to develop further stronghold nations by way of geographic growth by strategically leveraging its pioneering benefit, technological know-how and “ACWA Energy Complete Resolution” to ship profitable tariffs.