ACWA Power Secures $262.7 Million Deal for Uzbekistan Wind Project

ACWA Power Secures $262.7 Million Deal for Uzbekistan Wind Project

By Staff Writer, 01 April 2024

ACWA Power Company has finalized a substantial 25-year power purchase agreement (PPA) valued at SAR 985.13 million ($262.7 million) with Uzbekistan's state-backed National Electric Grid.

This agreement pertains to the Nukus2 project, which involves the establishment of a 200-megawatt (MW) wind power facility alongside a battery energy storage system.

According to a statement released by ACWA Power Company via the Saudi stock exchange, the project will adhere to a build, own, operate, and transfer model.

While currently in the developmental phase, known as Nukus2, the total investment value remains subject to potential changes as the project progresses towards financial closure.

Notably, this initiative operates within the framework of Uzbekistan's public-private partnership law, underscoring a collaborative effort between the government and private enterprise to advance sustainable energy infrastructure within the country.

Source: Zawya

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