ACWA Power signs agreement for 100MW Uzbekistan wind power project

Financial close for the project targeted for Q3 2022, with commercial operations expected by early 2024

ACWA Power, a leading Saudi developer, investor and operator of power generation, desalinated water and green hydrogen plants worldwide, announced it has finalised the project agreements for the 100MW Nukus wind project in the Republic of Uzbekistan.

Valued at $108mn, the Nukus wind farm is located in the Karakalpakstan region, in Northwestern Uzbekistan.

The project is Uzbekistan’s first publicly tendered wind project. ACWA Power won the competitive bid after proposing a tariff of US 2.5695 cents/kwh.

ACWA Power Wind Karatau FE LLC signed the 25- year Power Purchase Agreement (PPA) with JSC National Electric Grid of Uzbekistan (NEGU), and ACWA Power Wind Karatau FE LLC and ACWA Power signed the Government Support Agreement (GSA) with the Government of Uzbekistan represented by the Ministry of Finance.

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“We welcome this agreement as a further indication of ACWA Power’s commitment to Uzbekistan’s energy future. It is also a validation of the open and transparent bidding process we have put in place, with 12 well-qualified international bidders competing. We look forward to working with ACWA on this and its other exciting projects in our country,” said Alisher Sultanov, Uzbekistan Minister of Energy.

The Nukus wind farm is ACWA Power’s fourth project in Uzbekistan, after the US$1.2 billion Sirdarya project, which is a 1500MW Combined Cycle Gas-Turbine (CCGT) power plant, the 500 MW Bash facility and the US$1.3 billion Djankedly wind power project in Bukhara.

Uzbekistan is undergoing change as progresses towards an industrialised nation.

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