ACWA secures $238 M for wind project
ACWA Power has achieved a financial close of senior debt facilities worth $238 million to finance a wind farm in Azerbaijan.
Image for illustration purposes.
Azerbaijan: ACWA Power has achieved a financial close of senior debt facilities worth $238 million to finance a wind farm in Azerbaijan. The European Bank for Reconstruction and Development (EBRD) and the OPEC Fund for International Development (OPEC Fund) provided senior debt financing facilities for the 240 MW Absheron-Khizi wind farm. An equity bridge financing facility of $120 million was secured from First Abu Dhabi Bank (FAB) in December 2023. The project is Azerbaijan’s first international investment-based independent wind power project.
It is expected to become operational in the first half of 2026 and involves a 25-year power purchase agreement with the national electrical power company, Azerenerji. It could provide almost 300,000 households with renewable power and mitigate the impact of 400000 tonnes of carbon emissions per year.
Source: Zawya
#Absheron-Khizi wind farm#ACWA Power#Azerbaijan#Renewables#wind farm