Saudi-listed ACWA Power Company has secured 1.4 billion Saudi riyal ($373.17 million) funding for its 200-megawatt (MW) PV and 500 MWh battery storage Riverside Tashkent Power Plant in the Tashkent region of Uzbekistan.

The consortium of development finance institutions, funds and international commercial lenders comprises the European Bank for Reconstruction and Development (EBRD), Proparco, DEG, Islamic Development Bank (IsDB), Standard Chartered Bank and KFW-IPEX Bank.

The total cost of the project, developed by ACWA Power Riverside Solar Holding Company, is SAR 2 billion.

The funding duration is nearly 19 years, with ACWA Power providing a limited guarantee on its equity in the bridge loan and standby equity, the statement said.

(Editing by Anoop Menon) (anoop.menon@lseg.com)

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