{"id":1265,"date":"2024-12-31T10:24:08","date_gmt":"2024-12-31T06:24:08","guid":{"rendered":"https:\/\/www.utilitybusinessmena.com\/?p=1265"},"modified":"2024-12-31T10:24:08","modified_gmt":"2024-12-31T06:24:08","slug":"acwa-power-secures-692-million-financing-for-egyptian-wind-farm","status":"publish","type":"post","link":"https:\/\/cheeltech.com\/utilitybusinessmena\/electricity\/acwa-power-secures-692-million-financing-for-egyptian-wind-farm","title":{"rendered":"ACWA Power secures $692 million financing for Egyptian wind farm"},"content":{"rendered":"\n<p>Saudi-listed <a href=\"https:\/\/www.utilitybusinessmena.com\/renewable-energy\/acwa-power-and-chinas-gotion-partner-on-800m-moroccan-wind-plant-to-power-major-ev-battery-factory\" data-type=\"post\" data-id=\"855\" rel=\"nofollow noopener\" target=\"_blank\">ACWA Power<\/a> has secured $692 million (2.6 billion Saudi riyals) in funding for a 1,100-megawatt <a href=\"https:\/\/www.utilitybusinessmena.com\/power\/energy-storage\/amea-power-awarded-key-energy-storage-projects-in-south-africas-besipppp-window-2\" data-type=\"post\" data-id=\"1245\" rel=\"nofollow noopener\" target=\"_blank\">wind power<\/a> project in Egypt\u2019s Suez region.<\/p>\n\n\n\n<p>The financing comes from a consortium of international and regional institutions, including the <a href=\"https:\/\/www.utilitybusinessmena.com\/renewable-energy\/wind-energy\/ebrd-backs-africas-largest-onshore-wind-project-in-egypt-with-275-million-loan\" data-type=\"post\" data-id=\"1254\" rel=\"nofollow noopener\" target=\"_blank\">European Bank for Reconstruction and Development (EBRD)<\/a>, African Development Bank, British International Investment, DEG &#8211; Deutsche Investitions, the OPEC Fund for International Development, and the Arab Petroleum Investments Corporation.<\/p>\n\n\n\n<p>Standard Chartered Bank and Arab Bank also participated in the funding, providing senior debt through the EBRD\u2019s B-loan structure, the company announced in a statement on Tuesday on the Saudi stock exchange.<\/p>\n\n\n\n<p>The loan, with a 20-year tenure, will finance the development, construction, and ongoing operation and maintenance of the wind farm, a critical project for advancing renewable energy infrastructure in Egypt.<\/p>\n\n\n\n<p>Separately, ACWA Power announced that its 1,500 MW Sirdarya Combined Cycle Gas Turbine (CCGT) Independent Power Project in Uzbekistan has achieved full commercial operations.<\/p>\n\n\n\n<p>Located in Shirin City, Sirdarya region, the plant received its commercial operation certificate and is now fully operational, according to the company\u2019s filing.<\/p>\n\n\n\n<p>ACWA Power\u2019s growing portfolio highlights its position as a leading regional utility player, specialising in the development, investment, and operation of power generation, renewable energy, and desalination projects.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The loan, with a 20-year tenure, will finance the development, construction, and ongoing operation and maintenance of the wind farm.<\/p>\n","protected":false},"author":7,"featured_media":755,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[36,40,428,520,41,539,653],"tags":[50,1439,703,1109,488],"class_list":{"0":"post-1265","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-electricity","8":"category-news","9":"category-power","10":"category-projects","11":"category-renewable-energy","12":"category-sustainability","13":"category-wind-energy","14":"tag-acwa-power","15":"tag-african-development-bank","16":"tag-european-bank-for-reconstruction-and-development-ebrd","17":"tag-opec-fund-for-international-development","18":"tag-wind-power"},"_links":{"self":[{"href":"https:\/\/cheeltech.com\/utilitybusinessmena\/wp-json\/wp\/v2\/posts\/1265","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/cheeltech.com\/utilitybusinessmena\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/cheeltech.com\/utilitybusinessmena\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/cheeltech.com\/utilitybusinessmena\/wp-json\/wp\/v2\/users\/7"}],"replies":[{"embeddable":true,"href":"https:\/\/cheeltech.com\/utilitybusinessmena\/wp-json\/wp\/v2\/comments?post=1265"}],"version-history":[{"count":0,"href":"https:\/\/cheeltech.com\/utilitybusinessmena\/wp-json\/wp\/v2\/posts\/1265\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/cheeltech.com\/utilitybusinessmena\/wp-json\/wp\/v2\/media\/755"}],"wp:attachment":[{"href":"https:\/\/cheeltech.com\/utilitybusinessmena\/wp-json\/wp\/v2\/media?parent=1265"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/cheeltech.com\/utilitybusinessmena\/wp-json\/wp\/v2\/categories?post=1265"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/cheeltech.com\/utilitybusinessmena\/wp-json\/wp\/v2\/tags?post=1265"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}