“ACWA Power” signs a power purchase agreement with Uzbekistan for 1.8 billion riyals

ACWA Power announced the signing of a power purchase agreement under the Investment Law of the Republic of Uzbekistan with the National Electrical Grid in Uzbekistan for the Aral Wind Energy Project in the Republic of Uzbekistan with a production capacity of 5 gigawatts, with the value of the contract amounting to approximately 18.2 billion riyals, for a period

25 years.

The company said in a statement today on Tadawul that the financial impact will be disclosed upon completion of the first phase of the project’s financial closure, which will be announced at that time.

She explained that the project falls within the projects in the development stage, and therefore the total investment cost of the project (contract value) may change upon financial closing.