ACWA Power, a Saudi Arabian company listed as TADAWUL:2082, has entered into a power purchase agreement (PPA) to facilitate the creation of a 200-MW Nukus2 wind farm in Uzbekistan, along with a battery energy storage system (BESS).
In a filing on Sunday, the Saudi power producer disclosed that the PPA with the National Electric Grid of Uzbekistan is valued at SAR 985.13 million (USD 262.7m/EUR 243.7m).
ACWA Power mentioned that the Nukus2 project is currently in the development phase, and the total investment amount might change before reaching financial closure.
Under the public-private partnership law of Uzbekistan, the agreement with the country’s grid operator has been established. ACWA Power will implement the project following the build, own, operate, and transfer model.
The transfer of ownership will occur after the 25-year PPA term expires.
source: ACWA Power
