ACWA Power inks SAR 985.1M PPA with National Electric Grid of Uzbekistan

31/03/2024 Argaam

ACWA Power Co. signed a power purchase agreement (PPA), under public-private partnership, with the National Electric Grid of Uzbekistan for Nukus2 200 MW wind power project along with battery energy storage system (BESS) to be set up in Uzbekistan.

 

In a statement to Tadawul, the company said the contract model is build, own, operate and transfer at end of PPA term of 25 years.

 

This project is in the development stage and total investment value may change when it reaches financial close, the statement added.

 

The financial impact of the operation is expected to be reflected in results after H1, 2026.

 

No related parties are included in the deal.

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