ACWA Signs 25 Years PPA To Develop Wind, BESS Project In Uzbekistan

ACWA Signs 25 Years PPA To Develop Wind, BESS Project In Uzbekistan

Saudi based power company ACWA POWER signed a Power Purchase Agreement (PPA) with National Electric Grid of Uzbekistan. This agreement falls under the Public Private Partnership law in Uzbekistan with the National Electric Grid of Uzbekistan for Nukus 200 MW wind power project along with Battery Energy Storage System (BESS) to be set up in the Republic of Uzbekistan.

ACWA POWER signed a Power Purchase Agreement (PPA) with National Electric Grid of Uzbekistan. This contract was signed for AR 985.13 million (USD 262.7 million) for Build, Own, Operate and Transfer at end of PPA term of 25 years. The financial impact of the operation is expected to be reflected after H1, 2026.

This project is in the development stage and total investment value may change when it reaches financial close. ACWA Power has previously undertaken several renewable projects in Uzbekistan. It included Bash 500 MW wind farm, Dzhankeldy wind farm, Karakalpakstan wind farm and BESS project, and the Karatau wind farm.

The UAE based company Masdar is currently in the process of developing renewables projects in Uzbekistan. These projects include Zarafshan wind farm, Nur Navoi solar project, Jizzakh solar project, Sherabad solar project and Samarkand solar project. Uzbekistan aims to reach 7 GW of solar and 5 GW of wind capacity by the end of the decade.

Last year, Saudi-based clean energy firm ACWA Power, has entered into a Power Purchase Agreement (PPA) for a project known as, ‘ACWA Power Project DAO’ to be established in South Africa. The initiative is for a dispatchable renewable hybrid plant of 150 MW capacity. The signatories of the agreements included Gwede Mantashe, Minister of Mineral Resources and Energy and Segomoco Scheppers from Eskom.