{
  "id": 20149967,
  "title": "Acwa Power Closes 847.5M SAR Uzbekistan Wind Deal",
  "url": "https://urgent.news/2026/11/15/acwa-power-closes-847-5m-sar-uzbekistan-wind-deal",
  "topic": "business",
  "section": "Business",
  "published": "2026-11-15T08:45:57.000Z",
  "source": {
    "name": "The Saudi Standard",
    "slug": "the-saudi-standard",
    "url": "https://saudistandard.com/2026/11/15/acwa-power-closes-847-5m-sar-uzbekistan-wind-deal/"
  },
  "original_language": "en",
  "account": "Riyadh, Saudi Arabia — Acwa Power has successfully closed the financial aspect of its 300 MW Bash II Wind Farm project in Uzbekistan’s Bukhara Region. This significant achievement is made possible through a long-term debt arrangement of 226 million USD (847.5 million SAR) from a consortium of international lenders. The lenders include the Asian Development Bank (ADB), the Asian Infrastructure Investment Bank (AIIB), and Standard Chartered Bank. The debt is designed as limited-recourse senior debt, meaning repayment is primarily based on project cash flows rather than Acwa Power’s balance sheet. The lenders' guarantees are restricted to a standby equity commitment and a reserve account. This financing structure is consistent with typical practices for renewable energy projects in Uzbekistan, limiting Acwa Power’s direct financial exposure to the project, other than its equity stake. The financial close for Bash II is a pivotal moment for Acwa Power, as it signifies the removal of execution uncertainty. With funding now secured, construction can commence. The limited-recourse structure also caps Acwa Power’s contingent liabilities related to this project. Participation from multilateral lenders, the ADB and AIIB, highlights confidence in both the project and Uzbekistan’s energy transition plans. This limited-recourse debt structure provides significant benefits for Acwa Power, as it protects the company's broader financial position by limiting its exposure to project-level risks. The involvement of these major multilateral lenders also often results in more favorable debt conditions, which helps enhance the overall financial returns for the project. The financial close for Bash II represents Acwa Power’s disciplined approach to global expansion. It showcases the company's capability to attract and manage significant capital across different regions, a factor that positively influences its valuation on the Saudi Exchange. The strategic importance of this debt structure for Acwa Power cannot be overstated. By limiting lender recourse to project cash flows, Acwa Power effectively shields its consolidated balance sheet from the risks inherent in constructing and operating this 300 MW wind farm. This financial architecture allows the company to pursue additional projects without having to manage increasingly complex and interrelated financial exposures. The participation of ADB and AIIB in the financing of Bash II is a crucial element of the deal, offering benefits beyond mere reputational value. Multilateral development banks often provide more competitive debt terms and longer tenor periods, which are essential for the financial stability of long-term renewable energy projects. By securing a 21-year debt structure that aligns with long-term power purchase agreement revenues, Acwa Power ensures a stable and predictable return on investment for its equity holders. Uzbekistan’s growing focus on renewable energy and energy transition plans presents a promising landscape for utility-scale wind projects. Acwa Power’s ability to secure financing for this project in this region underscores its competitive edge and credibility in the global energy market. For investors considering the long-term financial performance of Acwa Power, Central Asia is emerging as a key area of growth. The company’s consistent success in reaching financial close in this region demonstrates its strategic positioning and ability to navigate complex international markets. As construction progresses on Bash II, investors and stakeholders will be closely monitoring the project’s execution to ensure that it meets its milestones and delivers the expected returns. The successful financial close of Bash II is another demonstration of Acwa Power’s commitment to Vision 2030, Saudi Arabia’s vision for diversifying its economy beyond hydrocarbons. As a majority state-owned company that operates as a commercial entity, Acwa Power’s ability to lead and deliver large-scale renewable infrastructure projects positions the company as a key player in Saudi Arabia’s push to become a global leader in clean energy.",
  "summary": "Riyadh, Saudi Arabia — Acwa Power has reached financial close on the 300 MW Bash II Wind Farm in Uzbekistan’s Bukhara Region. A consortium of international lenders will provide 226 million USD (847.5 million SAR) in long-term debt to develop, construct, own, and operate the project. Deal Details The financing consortium includes the Asian Development […] The post Acwa Power Closes 847.5M SAR…",
  "key_points": [
    "Acwa Power closes 847.5 million SAR debt for 300 MW Bash II Wind Farm in Uzbekistan.",
    "Funding secured through consortium of Asian Development Bank, AIIB, and Standard Chartered Bank.",
    "Limited-recourse senior debt caps Acwa Power's financial exposure to project risks."
  ],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}