Tuesday 21 May 2024

Acwa Power seals $263m Uzbek wind power purchase deal

RIYADH, March 31, 2024

Acwa Power, a leading developer of power and desalination projects, has announced that it has signed a  SAR985.13 million ($262.7 million) power purchase agreement (PPA) with the National Electric Grid of Uzbekistan for a 200MW wind project in the Central Asian country.
Under this 25-year agreement, the company will develop Nukus2 200 MW wind power project alongwith the battery energy storage system (BESS). 
A key public-private partnership (PPP) project, it is being implemented on the build, own, operate and transfer (Boot) model.
Acwa Power hadestimated its investments in Uzbekistan at $1.085 billion which would be used for construction of two wind-power plants at overall capacity of 800 MW.
Uzbek President Shavkat Mirziyoyev at a recent event approved the investment agreements sealed with Acwa Power on wind farm construction projects in Karakalpakstan at 500 MW and in the Bukhara Region at 300 MW.
As per prelimenary estimates, the agreement on the construction of a wind farm in the Kungrad district of Karakalpakstan is set to attract foreign direct investment worth $682 million, and $403 million for the project in the Gijduvan District of the Bukhar Region.-TradeArabia News Servicel.-TradeArabia News Service


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