Riyadh - Mubasher: ACWA Power, a leading developer and operator of power generation and desalinated water plants, has inked the financial package to develop the $1 billion Sirdarya Combined Cycle Gas-Turbine (CCGT) power plant in Uzbekistan.
A total of seven international lenders will grant $750 million senior debt for the 1500 MW project, including the European Bank for Reconstruction and Development (EBRD), German Investment Corporation (DEG), Standard Chartered, and Natixis, according to a press release on Thursday.
Upon completion, the project is forecast to meet 15% of power demand in Uzbekistan and comprise 8% of all installed power capacity
The President and CEO of ACWA Power, Paddy Padmanathan, said: "The successful financial closure of Sirdarya CCGT in a challenging operating environment validates continued appetite for public-private partnerships and green investments."
