ACWA Power Company has signed a 25-year power purchase agreement (PPA) worth SAR 985.13 million ($262.7 million) with the state-backed National Electric Grid of Uzbekistan for the Nukus2 200-megawatt (MW) wind power project and a battery energy storage system in Uzbekistan.

The project will be developed on a build, own, operate and transfer model, the company said in a statement published on the Saudi stock exchange.

Nukus2 is in the development stage, and the total investment value may change when it reaches a financial close.

The project is developed under the public-private partnership law in Uzbekistan.

(Editing by Anoop Menon) (

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