ACWA Power Signs $108 Million Contract for Wind Farm in Uzbekistan

International Company for Water and Power Projects (“ACWA Power”) announced on Sunday the signing of agreements for the 100MW Nukus wind project in the Republic of Uzbekistan.

The contract has been signed between ACWA Power Wind Karatau” FE LLC (affiliate of ACWA Power) and Nukus Wind JSC National Electric Grid of Uzbekistan (NEGU). The contract duration is 25 years from signing date.

The Company indicated on Tadawul on Sunday that the Nukus wind farm, which is valued at USD$108 million, is located in the Karakalpakstan region, in North-western Uzbekistan. ACWA Power won the competitive bid after proposing a tariff of 2.5695 USD cents/kwh.

The company added that the financial impact is expected on Q1 2024.

The project is the first wind project through public tendering process in Uzbekistan which also has the lowest Tariff in for Wind Energy Projects in the country. It is also the First Renewable Energy project in Uzbekistan governed by the new PPP Law in Uzbekistan, the company concluded.