ACWA Power Signs $2.4 bn PPA Agreement in Uzbekistan


ACWA Power signs Power Purchase Agreements (PPAs) and investment agreements through three wind power subsidiaries to develop the 1.5 GW Kungrad wind farm.


Each of the 3 projects will also incorporate a 100 MW capacity battery energy storage system.


The Kungrad wind farm, formerly referred to as Karakalpakstan Wind IPP, will be the largest single-site wind farm in Central Asia, and one of the largest in the world, when completed. Project is expected to be valued at US$2.4 billion to offset 2.4 million tonnes of carbon emissions per year and power 1.65 million households.


The Kungrad farm will bolster the Uzbek government’s long-term strategy to diversify the country’s energy mix, which targets 8 GW and 12 GW of solar and wind capacity by 2026 and 2030, respectively.


“It is my great pleasure to share an update on the progress of the Kungrad project. Uzbekistan is committed to delivering on policy goals to increase the renewable energy share of the country’s energy mix and reduce carbon emissions. The development of green energy and market reform go hand in hand in Uzbekistan, and the Kungrad project is a milestone both for our wind industry and the new public-private partnership model, introduced by the far-sighted reforms of President Mirziyoyev. The wind farm in Karakalpakstan, which will be built by our reliable partner ACWA Power, will be another pillar of a sustainable and reliable energy system in Uzbekistan”, said Jurabek Mirzamakhmudov, Minister of Energy of Uzbekistan.

Also Read  Hydrom Extends Deadline For Submitting Bids For Green Hydrogen Project

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.