ACWA POWER Co.(2082.SA) has announced its expectation to sign Financing Documents today for a wind energy project in Azerbaijan. The project will add 240 megawatts (MW) to the country's energy capacity. The company expects to finalize the financial arrangements today, on October 26, 2023, corresponding to the Hijri date of 1445-04-11.

Total Investment Cost: The total investment required for the project is 347 million USD, 71% of which is non-recourse to shareholders.

Project Company: The project company involved is "Acwa Power Azerbaijan Renewable Energy Limited Liability Company," an affiliate of ACWA Power.

Financing Entities: The European Bank for Reconstruction & Development (EBRD) and the OPEC Fund for International Development (OFID) are providing the financing.

Financing Amount: The total amount to be financed is 246 million USD.

Financing Duration: The duration of the financing is 20 years.

Guarantees: Guarantees are limited to ACWA Power's pro-rata share of an equity bridge loan, standby equity, and a reserve account.

Objective: The financing aims to fund the development and construction of a 240 MW Wind plant in Azerbaijan.

ACWA POWER Co. states that an addendum announcement will be made in the event of any change in the information mentioned in this announcement.