Saudi Arabia’s International Company for Water and Power Projects (ACWA Power) on Sunday announced the signing of a 25-year power purchase agreement (PPA) for the 100-MW Nukus wind farm in Uzbekistan.
ACWA Power Wind Karatau (affiliate of ACWA Power) and Nukus Wind JSC National Electric Grid of Uzbekistan (NEGU) signed the contract.
Valued at $108 million, the Nukus wind farm is located in the Karakalpakstan region, in northwestern Uzbekistan.
ACWA Power won the competitive bid after proposing a tariff of $2.5695 cents/kwh.
It is the first wind project through public tendering process in Uzbekistan.
It is also the first renewable energy project in Uzbekistan governed by its new public–private partnership (PPP) law.
The financial impact of the project is expected on Q1 2024.
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