Royal Institute of Traditional Arts implements Saudi-Chinese cultural exchange program    Localization in Saudi military industries rises to 19.35%    Logistics park for vehicles worth SR300 million to be set up at Dammam port    Commerce Ministry recalls 6,500 Genesis cars due to risk of fire    HONOR KSA expands its presence with new flagship Experience Store in Riyadh HONOR's first flagship store in KSA provides visitors with a premium experience, exciting offers and free services    Saudi, Iranian foreign ministers discuss Oman-mediated talks with US    Prince Sultan University launches first bachelor's program in language and media    Al-Falih: Eastern Province hosts 700 investment opportunities worth SR330 billion    Putin announces three-day Russian ceasefire in Ukraine from 8 May    Crown Prince donates SR1 billion to support housing for eligible families    Pakistani military says it killed 54 militants attempting to cross border from Afghanistan    Suspect charged after Vancouver car ramming leaves 11 dead    Eight hundred Houthi targets hit after weeks of strikes, says US    Rock & Roll Hall of Fame picks Outkast but not Oasis    Duran leads Al Nassr past Yokohama Marinos into AFC Champions League Elite semi-finals    Al Ahli cruise past Buriram into AFC Champions League Elite semi-finals    Saudi orchestra to perform at Sydney Opera House in May    Al Hilal thrash Gwangju to reach AFC Champions League Elite semi-finals    Saudi Theater Commission launches its Work and Learn Project in UK    The season has begun — and one comment shook us all    Pakistani star's Bollywood return excites fans and riles far right    Veteran Bollywood actor Manoj Kumar dies at 87    Bollywood actress vindicated over boyfriend's death after media hounding    Grand Mufti rules against posting prayers and preaching in mosques on social media    Exotic Taif Roses Simulation Performed at Taif Rose Festival    Asian shares mixed Tuesday    Weather Forecast for Tuesday    Saudi Tourism Authority Participates in Arabian Travel Market Exhibition in Dubai    Minister of Industry Announces 50 Investment Opportunities Worth over SAR 96 Billion in Machinery, Equipment Sector    HRH Crown Prince Offers Condolences to Crown Prince of Kuwait on Death of Sheikh Fawaz Salman Abdullah Al-Ali Al-Malek Al-Sabah    HRH Crown Prince Congratulates Santiago Peña on Winning Presidential Election in Paraguay    SDAIA Launches 1st Phase of 'Elevate Program' to Train 1,000 Women on Data, AI    41 Saudi Citizens and 171 Others from Brotherly and Friendly Countries Arrive in Saudi Arabia from Sudan    Saudi Arabia Hosts 1st Meeting of Arab Authorities Controlling Medicines    General Directorate of Narcotics Control Foils Attempt to Smuggle over 5 Million Amphetamine Pills    NAVI Javelins Crowned as Champions of Women's Counter-Strike: Global Offensive (CS:GO) Competitions    Saudi Karate Team Wins Four Medals in World Youth League Championship    Third Edition of FIFA Forward Program Kicks off in Riyadh    Evacuated from Sudan, 187 Nationals from Several Countries Arrive in Jeddah    SPA Documents Thajjud Prayer at Prophet's Mosque in Madinah    SFDA Recommends to Test Blood Sugar at Home Two or Three Hours after Meals    SFDA Offers Various Recommendations for Safe Food Frying    SFDA Provides Five Tips for Using Home Blood Pressure Monitor    SFDA: Instant Soup Contains Large Amounts of Salt    Mawani: New shipping service to connect Jubail Commercial Port to 11 global ports    Custodian of the Two Holy Mosques Delivers Speech to Pilgrims, Citizens, Residents and Muslims around the World    Sheikh Al-Issa in Arafah's Sermon: Allaah Blessed You by Making It Easy for You to Carry out This Obligation. Thus, Ensure Following the Guidance of Your Prophet    Custodian of the Two Holy Mosques addresses citizens and all Muslims on the occasion of the Holy month of Ramadan    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



ACWA Power signs agreement for 100MW Uzbekistan wind power project
Published in The Saudi Gazette on 20 - 12 - 2021

ACWA Power, a leading Saudi developer, investor and operator of power generation, desalinated water and green hydrogen plants worldwide, Monday announced it has finalized the project agreements for the 100MW Nukus wind project in the Republic of Uzbekistan.
Valued at $108 million, the Nukus wind farm is located in the Karakalpakstan region, in North-western Uzbekistan. This project is Uzbekistan's first publicly tendered wind project. ACWA Power won the competitive bid after proposing a tariff of 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.
Representatives from the Public-Private Partnership Development Agency under the Ministry of Finance of Uzbekistan, the Ministry of Energy of Uzbekistan, the Ministry of Investment and Foreign Trade of Uzbekistan and the European Bank for Reconstruction and Development (EBRD) were also present during the signing ceremony.
Uzbekistan Minister of Energy Alisher Sultanov said: "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."
The Nukus wind farm is ACWA Power's fourth project in Uzbekistan, after the $1.2 billion Sirdarya project, which is a 1500MW Combined Cycle Gas-Turbine (CCGT) power plant, the 500 MW Bash facility and the $1.3 billion Djankedly wind power project in Bukhara.
Commenting on the occasion, ACWA Power Chairman Mohammad Abunayyan said: "We are delighted to continue our expansion in Uzbekistan. The signing of the power purchase agreement for the Nukus wind farm is yet another landmark achievement for the country and for our company, as it reinforces our growing relationship with the Uzbek government and our commitment to accelerating the country's energy transition."
ACWA Power President and CEO Paddy Padmanathan said: "Uzbekistan is undergoing tremendous change as it progresses quickly towards an industrialised, connected and economically prosperous future.
"To achieve these goals, energy demand is set to increase rapidly and we at ACWA Power have the expertise, experience and technological know-how to deliver on these ambitions while ensuring the trajectory to achieving the net zero commitment, all as demonstrated by our work in our home market of Saudi Arabia, and beyond. We look forward to continue working with our government partners in Uzbekistan in realising their plans."
The project seeks to bolster the Uzbekistan government's efforts to diversify the country's energy mix and increase its renewable energy capacity in line with recent strategic reforms. The country's Ministry of Energy is targeting an 8GW capacity for solar and wind energy by 2026.
The Nukus wind farm's financial close is expected to be finalized by the third quarter of 2022, with commercial operations scheduled for early 2024. — SG


Clic here to read the story from its source.