IFC committed a US$240 million-equivalent Islamic Equity Bridge Loan structured as a Murabaha facility. The portfolio includes about 1 GW of solar generation and 668 MW of battery storage.
The projects also include approximately 500 km of transmission infrastructure. Expected annual generation is about 2,400 GWh. Expected avoided emissions are around 1.3 million metric tons of CO2 per year.
The Sharia-compliant structure broadens the capital pool for utility-scale renewables; generation and emissions are forecasts, while the commitment is not a disbursed amount.
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