ACWA Power signs two purchase agreements for “green ‎hydrogen” and “renewable energy” in Uzbekistan for $100 ‎million

ACWA Power announced the signing of a hydrogen purchase agreement with the Uzkimyosanot Chemical Company, which is owned by the state of Uzbekistan, and the signing of an energy purchase agreement with the national electric grid in Uzbekistan at a value of $100 million. The capacity of the purchase agreement is 3,000 tons of hydrogen annually, and the energy production capacity ranges renewable energy from 52 to 100 megawatts

The company said in a statement today on “Tadawul” that the contract period in the hydrogen purchase agreement is 15 years, while the term of the energy purchase agreement is 25 years indicating that the financial impact is expected to appear after the start of commercial operation, in June 2024 and June 2025.