Project ID: 65847

China Eximbank pledges to contribute $460 million to syndicated loan for 200MW Wind Farm in Caspian Sea Islands

Pledged amount

$ 530075552.229648

Adjusted pledged amount

$ 530075552.229648

Constant 2021 USD

Not recommended for aggregates

This project is not recommended for use in creating aggregated sums. See the documentation for more information about this criteria.

Summary

Funding agency [Type]

Export-Import Bank of China (China Eximbank) [State-owned Policy Bank]

Recipient

Azerbaijan

Sector

Energy (Code: 230)

Flow type

Loan

Level of public liability

Central government debt

Infrastructure

Yes

Category

Intent

Development (The next section lists the possible statuses.)

Commercial

Development

Representational

Mixed

Financial Flow Classification

Vague (Official Finance) (The next section lists the possible statuses.)

Official Development Assistance

Other Official Flows

Vague (Official Finance)

Flows categorized based on OECD-DAC guidelines

Project lifecycle

Status

Pipeline: Pledge (The next section lists the possible statuses.)

Pledge

Commitment

Implementation

Completion

Suspended

Cancelled

Milestones

Commitment

2017-08-01

Description

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.

Additional details

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.

Number of official sources

4

Number of total sources

7

Download the dataset

Details

Cofinanced

No

Direct receiving agencies [Type]

Azerbaijan State Agency for Alternative and Renewable Energy Sources (AREA) [Government Agency]

Implementing agencies [Type]

China Power Engineering Consulting Company Ltd. (CPECC) [State-owned Company]

Azerbaijan State Agency for Alternative and Renewable Energy Sources (AREA) [Government Agency]

Loan Details

Bilateral loan

Investment project loan