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MIGA’s goal is to promote foreign direct investment into developing countries to support economic growth and more.

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Explore different types of political risk insurance guarantees provided to investors and lenders.

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Explore global projects that support economic growth, reduce poverty and improves people’s lives.

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Learn about the progress MIGA is making in its mission to support economic growth, reduce poverty and improve people’s lives.

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World Bank building

MIGA’s goal is to promote foreign direct investment into developing countries to support economic growth and more.

Our Impact Dropdown Description

Hands husking peas into a basket full of peas

Learn about the progress MIGA is making in its mission to support economic growth, reduce poverty and improve people’s lives.

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Young woman bending down to tending to her outside chores

Explore different types of political risk insurance guarantees provided to investors and lenders.

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Hyundai building

Explore global projects that support economic growth, reduce poverty and improves people’s lives.

Uzbekistan

ACWA Power Sirdarya

$707.6 million
Power
Project Brief
Active

Project Description

On May 10, 2021, the Multilateral Investment Guarantee Agency (MIGA) has issued guarantees that will support design, construction, operation and maintenance of a combined cycle single fuel (gas) (“CCGT”) power generating facility with the net installed capacity of 1.5 GW in Sirdarya region of Uzbekistan (“Project”). 

The guarantees issued to Standard Chartered Bank (United Kingdom), Natixis (France), Societe Generale (France) and Bank of China Limited, Beijing branch (China) covering their non-shareholder loans to the Project and to J.P. Morgan Securities plc (England and Wales) Natixis (France), Societe Generale (France) and Bank of China Limited, Beijing branch (China) covering their interest rate swaps to the Project. [1]

The guarantees were issued for a period of 18 years and provide protection against the risks of transfer restriction, expropriation, war and civil disturbance and breach of contract. The total amount of guarantees was US$638.2 million for non-shareholder loans and US$69.4 million for interest rate swaps.

Environmental Categorization

The project is a category A under MIGA’s Policy on Environmental and Social Sustainability. Click here to view the Environmental and Social Review Summary.

Development Impact

The Project will: (i) increase consumer access, by way of increasing generation capacity via a modern, efficient, and reliable plant, given existing electricity shortfalls reflecting aging infrastructure and low efficiency rates on the existing plants; (ii) help the operationalization and development of the broader energy reform plan, by way of contributing to 9% of the required additional capacity by 2030; and (iii) adopt cutting-edge CCGT technology.

 

[1] MIGA issued Contracts of Guarantee for swaps on September 15, 2021.