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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).
DEVELOPMENT IMPACT
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.
As stated by Bloomberg, Standard Chartered Bank operates as a bank. The Bank provides savings account, loans, mortgages, credit cards, insurance, and investment services. Standard Chartered serves customers worldwide.
Private Actor 1 | Private Actor 1 Role | Private Actor 1 Sector | Relation | Private Actor 2 | Private Actor 2 Role | Private Actor 2 Sector |
---|---|---|---|---|---|---|
ACWA Power Company | Parent Company | Energy | owns | ACWA Power Bash Wind Foreign Enterprise Limited Liability Company | Client | Energy |
Standard Chartered Bank | Investor | Finance | invests in | ACWA Power Bash Wind Foreign Enterprise Limited Liability Company | Client | Energy |
No project contacts disclosed by MIGA at the time of disclosure.
ACCESS TO INFORMATION
You can submit a request for information disclosure at: https://www.miga.org/contact/access_to_information
You can also request general information about MIGA and for information on guarantees by emailing: migainquiry@worldbank.org
ACCOUNTABILITY MECHANISM OF IFC/MIGA
The Compliance Advisor Ombudsman (CAO) is the independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an IFC or MIGA- financed project. If you submit a complaint to the CAO, they may assist you in resolving a dispute with the company and/or investigate to assess whether the IFC is following its own policies and procedures for preventing harm to people or the environment. If you want to submit a complaint electronically, you can email the CAO at CAO@worldbankgroup.org. You can learn more about the CAO and how to file a complaint at http://www.cao-ombudsman.org