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
Project lifecycle
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
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]