ACWA Power’s $692 M for wind project in Egypt
ACWA Power has secured 2.6 billion Saudi riyals ($692.05 million) for a 1100 MW wind farm in Suez, Egypt.
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Egypt: ACWA Power has secured 2.6 billion Saudi riyals ($692.05 million) for a 1100 MW wind farm in Suez, Egypt. The funding comes from the European Bank for Reconstruction and Development (EBRD), African Development Bank, British International Investment, DEG – Deutsche Investitions, OPEC Fund for International Development and Arab Petroleum Investments Corporation.
Standard Chartered Bank and Arab Bank also funded the senior debt through EBRD’s B loan structure. The loan, with a tenure of 20 years, will be used for the development, construction, as well as operation & maintenance of the project.
Source: Zawya