ACWA Power strikes PPAs for 1.5-GW wind project in Uzbekistan

Saudi Arabia's ACWA Power (TADAWUL:2082) has signed on Friday the necessary deals to deliver a USD-2.4-billion (EUR 2.26bn) wind project in Uzbekistan with a total capacity of 1.5 GW.

The Saudi company announced that it entered into both investment deals and power purchase agreements (PPAs) with regard to the Kungrad wind project, formerly referred to as the Karakalpakstan wind project.

More specifically, three project companies, named ACWA Power Kungrad Wind 1 LLC FE, ACWA Power Kungrad Wind 2 LLC FE and ACWA Power Kungrad Wind 3 LLC FE, have sealed PPAs with the National Electric Grid of Uzbekistan. The off-take contracts have a term of 25 years from construction completion, scheduled for the third quarter of 2027.

Each of the three 500-MW plants will have 100 MW of energy storage capacity and, together, they will make up the largest single-site wind farm in Central Asia, capable of generating enough electricity to supply some 1.65 million homes. The project is expected to have a minimal environmental impact because of the utilisation of the latest mitigation technologies, including bird detection sensors, the developer said in a press statement.

The government of Uzbekistan aims to reach 8 GW and 12 GW of solar and wind capacity by 2026 and 2030, respectively.

(USD 1 = EUR 0.941)

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