{"id":84926,"date":"2024-04-01T00:00:00","date_gmt":"2024-04-01T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/ksa\/2024\/04\/01\/acwa-power-signs-ppa-agreement-for-wind-farm-in-uzbekistan\/"},"modified":"2024-04-01T00:00:00","modified_gmt":"2024-04-01T00:00:00","slug":"acwa-power-signs-ppa-agreement-for-wind-farm-in-uzbekistan","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/ksa\/2024\/04\/01\/acwa-power-signs-ppa-agreement-for-wind-farm-in-uzbekistan\/","title":{"rendered":"Acwa Power signs PPA agreement for wind farm in Uzbekistan"},"content":{"rendered":"

One step closer to an Uzbek wind farm, courtesy of Acwa Power: <\/strong>Renewables giant Acwa Power signed a SAR 985 mn (c. USD 262.7 mn) power purchase agreement with the National Electric Grid of Uzbekistan to develop a 200 MW wind farm known as Nukus 2, It will also build a battery energy storage system facility, it said in a disclosure to Tadawul<\/a> yesterday. Acwa didn\u2019t provide a timeline for the project. <\/p>\n

What we know:<\/strong> Acwa will build the plant under a build, own, operate, and transfer model under a 25-year contract. The project is still in the development stage and its total investment ticket may change when it reaches financial close. Revenues should hit Acwa\u2019s income statement in the first half of 2026.<\/p>\n

BACKGROUND-<\/strong> Acwa signed financing agreements<\/a> worth USD 120 mn in May for the 100 MW Karatau wind farm, formerly referred to as the Nukus wind project. Uzbekistan\u2019s national grid will be the sole buyer of electricity from the farm under a 25-year contract \u2014 the first under the country\u2019s public-private partnership law.<\/p>\n

Acwa has a considerable foothold in the country: <\/strong>Acwa Power has poured some USD 7.5<\/a>bn<\/a> into renewable energy projects in Uzbekistan to date. The projects are set to produce some 25 GW of renewable energy by 2030, slashing emissions by 3 mn tons. It signed three power purchase agreements<\/a> totaling USD 2.5 bn last year with the National Electric Grid of Uzbekistan and the country\u2019s Investment, Industry, and Trade Ministry for 1.4 GW worth of solar projects and three BESS units totalling a capacity of 1.5 GWh. It also signed power purchase and investment agreements<\/a> last year with NEGU for a 1.5 GW wind energy farm \u2014 slated to be Central Asia\u2019s largest. It is also set to develop<\/a> a green hydrogen plant and a green ammonia pilot project in Uzbekistan, the first of their kind in the Central Asian country.<\/p>\n

More to come?<\/strong> Saudi and Uzbekistan signed agreements<\/a> worth USD 12 bn in November that will see the Kingdom invest in everything from energy, agriculture, chemistry and IT to pharma and infrastructure. The announcement was made as officials broke ground on a pilot green hydrogen production project implemented by Acwa Power in the Tashkent region.<\/p>\n","protected":false},"excerpt":{"rendered":"

Acwa Power is also set to develop a 1.5 GW wind farm in Uzbekistan, which is slated to be the largest in Central Asia<\/p>\n","protected":false},"author":1,"featured_media":84927,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[2570],"tags":[448,2425,10,451,463],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-84926","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-energy","tag-acwa-power","tag-energy","tag-enterpriseam-ksa","tag-renewables","tag-uzbekistan","wpautop","entry"],"acf":{"mongo_id":"37882122-e8ad-490b-a75a-36f14257935b","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/3\/202.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Acwa Power inks SAR 985 mn PPA agreement for Uzbekistan\u2019s 200 MW Nukus 2 wind farm","related_issue":[84916],"teaser":"Acwa Power is also set to develop a 1.5 GW wind farm in Uzbekistan, which is slated to be the largest in Central Asia","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/4\/.8219fb5c-c407-4c3d-a6a7-475e29368dba.mp3"},"yoast_head":"\nAcwa Power signs PPA agreement for wind farm in Uzbekistan - 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