Acwa secures financial close of SAR 847.5M for Bash II wind farm in Uzbekistan

ACWA Power Co. (Acwa) said it has closed SAR 847.5 million ($226 million) in financing for the Bash II wind farm in Uzbekistan’s Bukhara region.

In a statement to Tadawul, the company said the financing, which has a duration of 21 years, was provided by a consortium of international lenders, including the Asian Development Bank (ADB), the Asian Infrastructure Investment Bank (AIIB), and Standard Chartered Bank.

Acwa’s guarantees are limited to its commitments related to the standby equity and reserve account, in line with prevailing market practices for limited-recourse renewable energy projects in Uzbekistan.

There are no related parties to the deal, the statement said.