Under this project MEGA supports Standard Chartered Bank, UK and other commercial lenders for their non-shareholder loans and interest rate swaps to the FE ACWA Power Bash Wind LLC (the "Project Enterprise"), wholly owned by ACWA Power of Saudi Arabia (ACWA) for the development of a wind power project in Uzbekistan.
The Project involves the design, construction, operation, and maintenance of a 500 MW greenfield Bash wind farm, located in Gijduvan district, Bukhara region. It includes construction of purchaser electrical facilities (162 km 500 kV overhead transmission line to connect the wind farm to the existing Karakul substation) and common electrical facilities shared with Dzhankeldy wind farm (switchyard with transformers, 500/220 kV pooling station).
The Project is expected to:
(i) add green electricity capacity into the grid to meet planned growth in demand;
(ii) reinforce the relevance of renewable sources within sustainability objectives to meet climate action goals; and
(iii) signal Uzbekistan as a viable destination for foreign investors in support of the country's objective to modernize its economy, including in generation.
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