ACWA Power signs agreement for 100MW Uzbekistan wind power project

ACWA Power signs agreement for 100MW Uzbekistan wind power project

RIYADH — ACWA Power, a leading Saudi developer, investor and operator of power generation, desalinated water and green hydrogen plants worldwide, Monday announced it has finalized the project agreements for the 100MW Nukus wind project in the Republic of Uzbekistan. Valued at $108 million, the Nukus wind farm is located in the Karakalpakstan region, in North-western Uzbekistan. This project is Uzbekistan’s first publicly tendered wind project. ACWA Power won the competitive bid after proposing a tariff of 2.5695 cents/kwh. ACWA Power Wind Karatau FE LLC signed the 25-year Power Purchase Agreement (PPA) with JSC National Electric Grid of Uzbekistan (NEGU), and ACWA Power Wind Karatau FE LLC and ACWA Power signed the Government Support Agreement (GSA) with the government of Uzbekistan represented by the Ministry of Finance. Representatives from the Public-Private Partnership Development Agency under the Ministry of Finance of Uzbekistan, the Ministry of Energy of Uzbekistan, the Ministry of Investment and Foreign Trade of Uzbekistan and the European Bank for Reconstruction and Development (EBRD) were also present during the signing ceremony. Uzbekistan Minister of Energy Alisher Sultanov said: “We welcome this agreement as a further indication of ACWA Power's commitment to Uzbekistan's energy future. It is also a validation