ACWA Power signs PPA for 200-MW wind, BESS scheme in Uzbekistan

Saudi Arabia’s ACWA Power Co (TADAWUL:2082) has signed a power purchase agreement (PPA) that supports the establishment of the 200-MW Nukus2 wind farm with a battery energy storage system (BESS) in Uzbekistan.

The PPA with the National Electric Grid of Uzbekistan is valued at SAR 985.13 million (USD 262.7m/EUR 243.7m), the Saudi power producer said in a bourse filing on Sunday.

The Nukus2 project is currently in the development stage and the total investment may change by the time it reaches financial close, ACWA Power said.

The contract with Uzbekistan’s grid operator falls under the public-private partnership law of the Central Asian country. ACWA Power will execute the project under the build, own, operate and transfer scheme.

The transfer will take place after the PPA term of 25 years expires.

(SAR 1.0 = USD 0.267/EUR 0.247)

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