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China Eximbank pledges to contribute $460 million to syndicated loan for 200MW Wind Farm in Caspian Sea Islands
| Funder | Export-Import Bank of China (China Eximbank) |
|---|---|
| Recipient Organization | Azerbaijan State Agency for Alternative and Renewable Energy Sources (AREA) |
| Country | Azerbaijan |
| Start Date | Aug 01, 2017 |
| End Date | Aug 22, 2032 |
| Duration | 5,500 days |
| Number of Grantees | 1 |
| Roles | Recipient |
| Data Source | AidData Chinese Aid |
| Grant ID | 65847 |
Grant Description
China Eximbank pledges to contribute $460 million to syndicated loan for 200MW Wind Farm in Caspian Sea Islands In August 2017, China Eximbank stated that it would support a $460 million loan for a 200MW Wind Farm Project on the Absheron Peninsula.
The planned project would involve the construction of 40 to 60 wind turbines — with 200 MW of power generation capacity — in the Caspian Sea on the Islands of Pirallahi and Cilov.
A Chinese state-owned enterprise, China Power Engineering Consulting Group Co. (CPECGC), was identified as the contractor responsible for implementation.
The project is reportedly also being assisted by the Azerbaijan State Agency for Alternative and Renewable Energy Sources.
Staff Comments
According to a US EXIM Bank database and the OECD, this project is being financed by the China Eximbank and other state lenders. However, AidData has not yet confirmed the signing of a loan agreement with any official Chinese sources. Also, one 2019 media source indicates that the 'financing mechanism has not yet been determined.' As such, AidData has status-coded this project as a pledge for the time being.
Sources & References
- China’s Ex-Im Bank Backs Azerbaijan Wind With $460 Million Loan
- Chapter 2. Investment in sustainable infrastructure in Azerbaijan
- AREA подготовила проекты строительства двух электростанций на Каспии на сумму $1,2 млрд, Азербайджан построит на Каспии ветропарк на 200 мегаватт
- PUBLIC- PUBLIC-PRIVATE PARTNERSHIPS PRIVATE PARTNERSHIPS PRIVATE PARTNERSHIPSIN AZERBAIJAN, Развитие устойчивой инфраструктуры для перехода к низкоуглеродной экономике стран Центральной Азии и Кавказа: Отображение ситуации с потенциально высокоэффективными инфраструктурными проектами и оценка потребностей
- China Database Loan applications and disbursements are still being received and processed as the projects continue to evolve. Ongoing monitoring and evaluation are in place to ensure project continuity.
All Grantees
Azerbaijan State Agency for Alternative and Renewable Energy Sources (AREA)
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