ACWA Power secures funding for 1 GW of Uzbek wind projects

Saudi Arabia’s ACWA Power Co (TADAWUL:2082) will receive USD 174 million (EUR 157.86m) in loans from the Asian Development Bank (ADB) to develop the Bash and Dzhankeldy wind projects in the Bukhara region in Uzbekistan.

The financing package includes USD 40.5 million worth of loans for the 500-MW Bash project and USD 46.5 million for the 500-MW Dzhankeldy scheme which will be funded through ADB’s ordinary capital resources, ADB said on Monday.

The bank will also administer USD 40.5 million for Bash and USD 46.5 million for Dzhankeldy from the Leading Asia's Private Infrastructure Fund (LEAP).

The funding will be used also for the construction of 282.5 kilometres (175.5 miles) of 500-kilovolt transmission to connect the two wind farms to the power grid.

At the end of 2022, the European Bank for Reconstruction and Development (EBRD) arranged two syndicated loans worth a total of USD 520 million to support the construction of the two projects.

Each of the two wind farms will consist of 79 wind turbines and together the two facilities will generate 3,235 GWh, offsetting nearly 2 million tons of carbon dioxide equivalent a year.

(USD 1 = EUR 0.907)

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