Energy

ACWA Power inks $262.7mn wind PPA in Uzbekistan

The project will be undertaken under the build, own, operate and transfer model

A US $262.7mn power purchase agreement (PPA) has been signed by Acwa Power and the National Electric Grid of Uzbekistan for a 200MW wind project. As per the terms of the 25-year agreement, the company will develop the Nukus2 200MW wind power project along with a battery energy storage system (BESS).

Billed as a ‘key public-private partnership (PPP) project’, it is being undertaken under the build, own, operate and transfer (Boot) model.

Acwa Power said that it had $1.085bn in investments in Uzbekistan, which would be used for the construction of two wind-power plants at overall capacity of 800MW.

Uzbekistan President Shavkat Mirziyoyev approved the investment agreements sealed with Acwa Power on wind farm construction projects in Karakalpakstan (at 500MW) 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.

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