📋 Tender Overview
Project Number: 48734
Company Name: INTERNATIONAL COMPANY FOR WATER AND POWER PROJECTS
Date SPI Disclosed: Apr 5, 2024
Country: Uzbekistan
Region: Central Asia and Turkiye
Projected Board Date: Jun 13, 2024
Environmental Category: A
Status: Pending Approval
Department: Regional Industry INF MCT
Industry: Infrastructure
Sector: Solar - Renewable Energy Generation
Project Description
The proposed investment involves providing an Equity Bridge Loan ( EBL ) facility for the development and operation of 1 Gigawatt (GW) of Solar Photovoltaic (PV) and 1 GWh Battery Energy Storage System (BESS) and associated interconnection facilities in Uzbekistan (the Project ). The Project will comprise of two subprojects, each up to 500MW Solar PV and up to 500 MWh BESS each in the Samarkand and Bukhara regions. The Project will be undertaken by two limited liability companies established in Uzbekistan and owned by ACWA Power International. The electricity generated from the two projects will be sold to Uzbekistan’s state-owned electricity utility, JSC National Electric Grid of Uzbekistan ( NEGU ) under a 25-year power purchase agreement, including a 10-year BESS term.
Total Project Cost and amount and nature of IFC's Investment: The project cost is estimated to be around US$1.4 billion across the two sub-projects, with an expected Debt to Equity split of 75:25. ACWA intends funding up to US$240 million of its Equity contribution through EBLs to the projects.
The proposed investment involves a 4-year loan of (i) approximately US$228 million from IFC’s own account, and (ii) approximately US$12 million from IFC acting in its capacity as implementing entity for the Managed Co-Lending Portfolio Program ( MCPP )
Financing Sources:
2) World Bank (WB)
1818 H Street, NW Washington,
DC 20433 USA
Tel : (202) 473-1000
https://www.worldbank.org/
