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ACWA Power, Uzbekistan’s National Electric Grids sign agreement on electricity purchase

Oil&Gas Materials 25 January 2021 11:24
ACWA Power, Uzbekistan’s National Electric Grids sign agreement on electricity purchase

BAKU, Azerbaijan, Jan. 25

By Klavdiya Romakayeva - Trend:

Saudi Arabian ACWA Power and Uzbekistan signed investment agreements for the construction of two wind farms in Uzbekistan in 2024, Trend reports referring to the press service of the Ministry of Investments and Foreign Trade of Uzbekistan (MIFT).

According to the MIFT, a groundbreaking ceremony was held in Tashkent for the construction of a power plant with a combined cycle gas turbine unit with a capacity of 1500 MW at the Syrdarya thermal power plant (TPP).

It was noted that ACWA Power intends to expand its presence in Uzbekistan through the implementation of new large-scale investment projects.

This is evidenced by the investment agreements signed on the construction of two wind power plants - Bash and Dzhankeldy in Navoi and Bukhara regions, respectively, with a total capacity of 1000 MW.

According to the information, the commissioning of these power plants, scheduled for 2024, will ensure the generation of cheap electricity in the amount of 3.6 billion kWh per year. The total cost of the projects will amount to $1.3 billion.

Also, as part of the ceremony, ACWA Power and the National Electric Grids of Uzbekistan JSC signed corresponding agreements on the purchase of electricity.

It was reported that these projects are part of the program of the government of Uzbekistan to diversify the country's energy balance, aimed at bringing the volume of electricity generated by wind farms to 3 GW by 2030. The implementation of these projects is also expected to reduce carbon emissions by 1.6 million tons per year, thereby helping to achieve the goals set by the government of Uzbekistan to transfer 40 percent of its energy capacity to renewable energy sources by 2031.

ACWA Power specializes in the design, financing and operation of equipment for the production of electricity and desalted water. The company employs around 3,500 people and currently has an international presence in 12 countries in the Middle East, Africa, Central and Southeast Asia. ACWA Power's portfolio includes 60 assets with an investment value of $61.2 billion, producing 38.7 GW of electricity and 5.8 million cubic meters of desalinated water per day.

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Follow the author on Twitter: @romakayeva

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