ACWA Power signs $2.5 bln agreements for 3 electricity generation plants in Uzbekistan

19/03/2023 Argaam

ACWA Power signs $2.5 bln agreements for 3 electricity generation plants in Uzbekistan

Logo of ACWA Power Co.

ACWA Power Co. announced the signing of power purchase agreements (PPAs) worth $2.5 billion with National Electric Grid of Uzbekistan (NEGU), for the development, construction, operation and ownership of three solar photo voltaic (PV) electricity generation facilities.

 

The plant will run at a total combined capacity of 1,400 megawatts (MWs) through three Battery Energy Storage Systems (BESS) of a total combined capacity of 1,500 megawatt-hour (MWh), according to a statement to Tadawul.

 

These facilities will be located in Tashkent, Samarkand and Bukhara regions of Uzbekistan, ACWA Power added.

 

ACWA Power stated that the contracts' term is 25 years, expecting the related financial impact to materialize once the plants become commercially available in Q3 2025 and Q3 2026.

 

The company also said that the facilities are expected to offset 1.6 million tons of carbon emissions per year and power 1.1 million households, when completed. It noted that there are no related parties to the agreements.

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