11.8 C
Tuesday, May 21, 2024
HomeCentral AsiaACWA Power wins $2.5bn Uzbekistan solar plant deal

ACWA Power wins $2.5bn Uzbekistan solar plant deal


Related stories

Kosovo, Serbia Trade Accusations At UN Security Council Meeting

The presidents of Serbia and Kosovo traded accusations on...

Croatian Dalekovod Contracts Jobs in Albania & Slovenia

April the 27th, 2024 – The Croatian Dalekovod company...

Ukraine Says It Repelled Russian Bid to Cross Border

Ukraine says it has repelled a Russian armoured attack...

Is Albania’s Edi Rama the New Erdogan?

Almost a quarter century ago, Recep Tayyip Erdogan visited...

RIYADH: Saudi Arabia’s ACWA Power has signed three power purchase agreements worth $2.5 billion with the National Electric Grid of Uzbekistan to build solar photovoltaic power plants in the Central Asian country.    

The company said in a bourse filing that the plants will be located in Tashkent, Samarkand and Bukhara regions of Uzbekistan.  

According to the statement, the project, upon completion, is expected to offset 1.6 million tons of carbon emissions per year and power 1.1 million homes.    

ACWA Power further noted that the power purchase agreement covers three solar PV plants at the site, one developing 400 megawatts of wind power and the other two developing 500 megawatts.    

The agreement also covers three Battery Energy Storage Systems with a total combined capacity of 1,500 megawatts.  

The bourse filing added that the deal covers the development, construction and operation of the project, and the contract has a duration of 25 years upon the completion of the project.    

“The financial impact of the contracted revenues is expected to materialize once the plants become commercially available expected currently expected in third quarter of 2025 and the third quarter of 2026,” said ACWA Power in the filing.

Source: arabnews


- Never miss a story with notifications

- Gain full access to our premium content

- Browse free from up to 5 devices at once

Latest stories