March 6 (Renewables Now) - Saudi Arabia's ACWA Power has clinched a deal with the government of Uzbekistan for the construction of a wind farm of between 500 MW and 1,000 MW.
The value of the implementation agreement will range from USD 550 million (EUR 489.9m) to USD 1.1 billion, depending on the project’s capacity, ACWA Power said on Thursday.
The pact is part of a series of strategic agreements between the Saudi firm and Uzbekistan with a potential value of over USD 2 billion, the goal of which is to enhance the nation’s power production.
ACWA Power’s collaboration with the Uzbek government also includes a 25-year power purchase agreement (PPA) worth USD 1.2 billion that will enable the construction of a 1,500-MW combined cycle gas-turbine power plant and a memorandum of understanding (MOU) for a technical training centre for Uzbek students.
"These newly agreed power projects represent a historic milestone for Uzbekistan and support our mission to strengthen energy security through self-sufficient power sources,” commented Alisher Sultanov, Uzbekistan’s minister of energy.
Veselina Petrova is one of Renewables Now's most experienced green energy writers. For several years she has been keeping track of game-changing events both large and small projects and across the globe.