| Project Detail |
Location:
Azerbaijan
Project number:
52735
Business sector:
Energy
Notice type:
Private
Environmental category:
A
Approval date:
20 Jul 2022
Status:
Concept Reviewed
PSD disclosed:
14 Jun 2022
Project Description
The provision of long-term senior debt of up to USD 105 million for the development, construction and operation of a wind power plant with an installed capacity of 240 MW located in the Khizi and Absheron regions of eastern Azerbaijan (the Project). ACWA Power Azerbaijan Renewable Energy Limited Liability Company, a special purpose vehicle established in Azerbaijan, will act as the borrower. ACWA Power will act as the sponsor for the project.
Project Objectives
The Project will add 240 MW of wind generation capacity to the power system of Azerbaijan. This would help substitute natural gas-based power plants and help in meeting the renewable energy targets set by the Government of Azerbaijan in line with countys commitments under the Paris Agreement. The Project will also result in strong environmental benefits with estimated annual CO2 emissions savings of up to 400,000 tonnes. This will assist the country in its low-carbon transition, reducing its current high reliance on thermal power generation. |
