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ACWA POWER Co. announces that it expects signing of the Financing Documents today for the 240MW wind project in Azerbaijan.
| Element List | Explanation |
|---|---|
| Introduction | ACWA POWER Co. announces that it expects signing of the Financing Documents for the wind project in Azerbaijan which will add 240 MW of energy capacity. The total investment cost is 347 M USD (71% of it is non-recourse to shareholder). The project company ”Acwa Power Azerbaijan Renewable Energy Limited Liability Company” as an affiliate of ACWA Power signs the financing agreements. |
| Date of obtaining the funding | 2023-10-26 Corresponding to 1445-04-11 |
| Financing entity | European Bank for Reconstruction & Development (EBRD) and the OPEC Fund for International Development (OFID) |
| Financing amount. | 246 MUSD |
| Financing duration. | 20 Years |
| Guarantees offered for the financing | Limited to Acwa Power pro-rata share of equity bridge loan, Standby equity and reserve account. |
| Financing objective | Fund the development and construction of a 240 MW Wind plant |
| Related Parties | None |
| Additional Information | The Company will make addendum announcement in case of any change of information mentioned in this announcement |
The Capital Market Authority and Saudi Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.
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