ACWA Power takes out a loan for TPP construction in Uzbekistan

A $100 million loan for the Saudi ACWA Power has been provided by the Asian Infrastructure Investment Bank (AIIB), Sputnik Uzbekistan reports.

The loan was provided for the construction of a TPP gas turbine with a capacity of 1.5 thousand MW in the Syrdarya region.

The AIIB press release notes that this is the bank’s first unsecured financing project aimed at developing the gas power plant industry.

The TPP construction began in January this year. The total cost of all works is $1.2 billion. In addition to credit funds, ACWA Power will direct its own investments for construction.