ACWA Power Concords To Handle Wind Power Project In Uzbekistan

2024-04-03 02:07:47

(MENAFN- Trend News Agency) TASHKENT, Uzbekistan, April 3. Saudi Arabia'sACWA Power signed a Power Purchase Agreement on implementing the200 MW Nukus-2 wind power project and associated battery energystorage system (BESS) in Uzbekistan, Trend reports.

According to the Saudi Stock Exchange, the cost of the projectis estimated at $262.7 million. The duration of the contract is 25years.

Meanwhile, ACWA Power signed an agreement to build two new solarpower plants in Uzbekistan.

According to the Ministry of energy and the Ministry ofInvestment, Industry, and Trade, the agreements provide for thecommissioning of a 400 MW solar photovoltaic power plant and a 400MW energy storage system in the Tashkent region.

ACWA Power will also build a 1,000 MW photovoltaic power plantand 400 MW energy storage systems in Samarkand. In addition, thereare 400 MW of energy storage systems in the Bukhara region.

In addition, the current total volume of ACWA Power'sinvestments in energy projects in Uzbekistan amounts to $7.5billion.

ACWA Power was established in 2008, succeeding ACWA PowerProjects, a joint venture formed in 2004 by ACWA Holding(representing the Abunayyan Holding Company and Al-Muhaidib) andthe MADA Group for Industrial and Commercial Development tocapitalize on new private sector investment and operationalopportunities in the Saudi Arabian market.

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