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20-03-23
ACWA Power Inks USD2.5 Billion Power Purchase Deal to Establish Solar PV Plants in Uzbekistan
(MENAFN) ACWA Power has signed a contract worth $2.5 billion with the National Electric Grid of Uzbekistan to build solar photovoltaic power plants in three regions of Uzbekistan. The project will include three solar PV plants, one generating 400 MW of wind power, and two generating 500 MW. The project is expected to offset 1.6 million tons of carbon emissions per year and power 1.1 million homes. The deal also covers three Battery Energy Storage Systems with a total combined capacity of 1,500 MW. The project is expected to be completed by the third quarter of 2025 and the third quarter of 2026. The agreement covers the development, construction, and operation of the project for 25 years upon completion.
The project is significant for Uzbekistan's energy transition towards renewable energy sources, generating electricity, reducing carbon emissions, and contributing to the country's economic development. ACWA Power's investment in Uzbekistan's renewable energy sector aligns with its efforts to expand its global footprint in sustainable energy development. The project will create new job opportunities and improve Uzbekistan's energy security.
MENAFN20032023000045014228ID1105813427
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