Global Private Equity Partners provided a USD $575 Million Loan to set up an 800 megawatt Power Plant in the South Western region of Asia.
The plant, operating on the latest technology, will help meet the south Asian Country’s growing demand for clean energy, said Global Private Equity Partner’s Project Manager.
The total cost of the project is USD $1.34 Billion, Global Private Equity Partners is contributing the balance in financing as a second tranche.
The Asian Country faces recurring power generation shortages, officials from the Country’s Power and Energy Sector said.
With the completion of the new Plant, the net peak demand is expected to exceed 19,900 MW by 2025, while existing generation facilities will gradually retire and need replacement, they said.
“By providing additional electricity supply to about 350,000 consumers, the plant will stimulate business expansion and create new job opportunities,” said Global Private Equity Partner’s spokesperson.
The plant, due to be completed by end of 2022, will use the most advanced water treatment processes to purify and recycle liquid waste, leaving zero discharge.
To date, Global Private Equity Partners has provided around USD $6 Billion in loans to for energy sector.
