{"id":77074,"date":"2023-04-26T03:40:24","date_gmt":"2023-04-26T03:40:24","guid":{"rendered":"https:\/\/enterpriseam.com\/climate\/2023\/04\/26\/ksas-acwa-power-lands-fresh-financing-for-projects-in-egypt-and-uzbekistan\/"},"modified":"2023-04-26T03:40:24","modified_gmt":"2023-04-26T03:40:24","slug":"ksas-acwa-power-lands-fresh-financing-for-projects-in-egypt-and-uzbekistan","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/climate\/2023\/04\/26\/ksas-acwa-power-lands-fresh-financing-for-projects-in-egypt-and-uzbekistan\/","title":{"rendered":"KSA\u2019s Acwa Power lands fresh financing for projects in Egypt and Uzbekistan"},"content":{"rendered":"

<\/a> Acwa Power secures green loans for Egyptian solar project: <\/strong>Saudi renewables giant Acwa Power received green loans totaling USD 123 mn from several multilateral lenders for its planned USD 165 mn 200 MW solar farm in Egypt\u2019s Kom Ombo, according to a company statement<\/a>. The solar farm is expected to be commercially operational in 3Q 2024<\/a> and will power some 130k households in the country.<\/p>\n

Who\u2019s pitching in? <\/strong>The financing includes USD 36 mn from the European Bank for Reconstruction and Development (EBRD), USD 14.6 mn from the OPEC Fund for International Development, and USD 24.4 mn from the African Development Bank (AfDB) \u2014 with USD 10 mn being funneled through its Sustainable Energy Fund for Africa. The United Nations\u2019 Green Climate Fund (GCF) will extend USD 34.5 mn in funding and the Arab Bank will contribute USD 14.8 mn for financing the project.<\/p>\n

There are already funds in place: <\/strong>Acwa already secured bridge loans worth some USD 45 mn from Apicorp and USD 14 mn from the EBRD. The multilateral lenders had approved the financing package back in 2021, but supply chain disruptions as a result of the covid 19 pandemic have delayed disbursement of the funds, the statement notes. The company received a USD 3.6 mn technical assistance financing package co-funded by both GCF and EBRD in 2021.<\/p>\n

FURTHER AFIELD- <\/strong>The renewables giant is set to receive a USD 174 mn green loan from the Asia Development Bank (ADB) to help finance its 500 MW Dzhankeldy Wind Farm<\/a> and 500 MW Bash Wind Plant<\/a> in Uzbekistan, according to a statement<\/a> released on Monday. The company secured two separate loans worth USD 20 mn each from the OPEC Fund for International Development earlier this month<\/a> to finance the renewable energy plants.<\/p>\n

The financing package: <\/strong>The multilateral development bank will extend a green loan worth USD 46.5 mn for Acwa\u2019s USD 658 mn Dzhankeldy wind plant, and another green credit line of USD 40.5 mn for the USD 690 mn 500 MW Bash Wind Farm in the Bukhara region of the country. ADB will also administer an equivalent financing package totaling USD 87 mn for both projects under the umbrella of its USD 1.5 bn Leading Asia\u2019s Private Infrastructure Fund, the statement notes. The credit line extended by the bank will partly be channeled toward the construction, operation, maintenance, and development of 282.5 km, 500 kilovolt power line connecting both farms to the country\u2019s electricity grid.<\/p>\n","protected":false},"excerpt":{"rendered":"

Acwa Power secures green loans for Egyptian solar project: Saudi renewables giant Acwa Power received green loans totaling USD 123 mn from several multilateral lenders for its planned USD 165 mn 200 MW solar farm in Egypt\u2019s Kom Ombo, according to a company statement. The solar farm is expected to be commercially operational in 3Q […]<\/p>\n","protected":false},"author":1,"featured_media":77075,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[243],"tags":[40,11,164,88,159,174],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-77074","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-green-finance","tag-egypt","tag-enterpriseclimate","tag-green-finance","tag-renewables","tag-saudi-arabia","tag-uzbekistan","wpautop","entry"],"acf":{"mongo_id":"2e9b07ee-ebee-43bc-8cd5-34f504462f6b","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2023\/3\/791.jpg","photo_position":"above","related_issue":[77069],"teaser":"","voice_url":""},"yoast_head":"\nKSA\u2019s Acwa Power lands fresh financing for projects in Egypt and Uzbekistan - Climate<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/climate\/2023\/04\/26\/ksas-acwa-power-lands-fresh-financing-for-projects-in-egypt-and-uzbekistan\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"KSA\u2019s Acwa Power lands fresh financing for projects in Egypt and Uzbekistan\" \/>\n<meta property=\"og:description\" content=\"Acwa Power secures green loans for Egyptian solar project: Saudi renewables giant Acwa Power received green loans totaling USD 123 mn from several multilateral lenders for its planned USD 165 mn 200 MW solar farm in Egypt\u2019s Kom Ombo, according to a company statement. 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