BAKU, Azerbaijan, Mar. 16
By Klavdiya Romakayeva - Trend:
The Saudi ACWA Power successfully completed the stage of financing a project for the construction of a new thermal power plant (TPP) with a total capacity of 1,500 MW in Shirin district of Syrdarya region in Uzbekistan, Trend reports referring to the Ministry of Energy of Uzbekistan.
According to the information, an investment agreement for the construction of a new thermal power plant and an agreement on the purchase of electricity from this thermal power plant for 25 years was signed between ACWA Power, as a private energy producer, and the Uzbek side on March 5, 2020.
It is reported that the total cost of the project amounts to $1.2 billion, of which $747 million are loans provided by the International Development Bank and foreign private commercial banks.
The list of the creditors includes the European Bank for Reconstruction and Development (EBRD), the International Development Fund of the Organization of the Petroleum Exporting Countries (OPEC), the German Investment Corporation (DEG), Standard Chartered Bank (UK), Natixis (France), Societe Generale (France), Bank of China.
It is noted that the term of the loan agreements amounts to 18 years, of which construction work will be carried out during the first three years.
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