TASHKENT, Uzbekistan, April 3. Saudi Arabia's ACWA Power signed a Power Purchase Agreement on implementing the 200 MW Nukus-2 wind power project and associated battery energy storage system (BESS) in Uzbekistan, Trend reports.
According to the Saudi Stock Exchange, the cost of the project is estimated at $262.7 million. The duration of the contract is 25 years.
Meanwhile, ACWA Power signed an agreement to build two new solar power plants in Uzbekistan.
According to the Ministry of Energy and the Ministry of Investment, Industry, and Trade, the agreements provide for the commissioning of a 400 MW solar photovoltaic power plant and a 400 MW energy storage system in the Tashkent region.
ACWA Power will also build a 1,000 MW photovoltaic power plant and 400 MW energy storage systems in Samarkand. In addition, there are 400 MW of energy storage systems in the Bukhara region.
In addition, the current total volume of ACWA Power's investments in energy projects in Uzbekistan amounts to $7.5 billion.
ACWA Power was established in 2008, succeeding ACWA Power Projects, a joint venture formed in 2004 by ACWA Holding (representing the Abunayyan Holding Company and Al-Muhaidib) and the MADA Group for Industrial and Commercial Development to capitalize on new private sector investment and operational opportunities in the Saudi Arabian market.