US$69.4 million debt financing received for 1,500 MW CCGT gas-fired power plant PPP in the Syrdarya

Multilateral Investment Guarantee Agency (MIGA) has issued a US$69.4 million debt guarantee for the development of a 1,500 MW combined cycle single fuel gas (CCGT) power plant located in the Syrdarya region in Uzbekistan. A US$638.2 million debt guarantee was issued to a global group of commercial lenders.

The power plant will have almost two times higher efficiency compared to the old generation fleet, resulting in more efficient usage of natural gas and decreased CO2 emissions. Acwa Power Sirdarya LLC. is responsible for the design, construction, operation and maintenance of the facility. 

The MIGA-guaranteed senior debt and interest rate swaps are being provided by a number of commercial banks: Standard Chartered PLC, Société Générale S.A, Natixis S.A, Bank of China Limited, J.P. Morgan Securities plc. The guarantees will have a term of up to 18 years protecting the Lenders and Hedge Providers against the risks of currency inconvertibility and transfer restriction, expropriation, war and civil disturbance and breach of contract.