Saudi's ACWA Power signs $2.5bln deals with Uzbekistan

Agreements include $1.2bln power plant

  
ACWA Power Zarqa IPP, driven by GE Power’s 9E gas turbines, enters commercial operations to add 485 MW electricity to Jordan’s grid

ACWA Power Zarqa IPP, driven by GE Power’s 9E gas turbines, enters commercial operations to add 485 MW electricity to Jordan’s grid

ACWA Power / Handout via Zawya

Saudi Arabian utility developer ACWA Power has signed three new agreements worth up to $2.5 billion with the Ministry of Energy of Uzbekistan.

The deals include a $1.2 billion 25-year Power Purchase Agreement (PPA) and Investment Agreement for the construction and operation of a 1500 MW Combined Cycle Gas-Turbine (CCGT) power plant.

A second implementation agreement was signed for a $550 million-$1.1 billion project for building 500-1000 megawatts (MW) wind power plants.

“These newly agreed power projects represent a historic milestone for Uzbekistan and support our mission to strengthen energy security through self-sufficient power sources,” Alisher Sultanov, Minister of Energy of Uzbekistan said in a statement.

“ACWA Power’s focus on smart, energy efficient technologies will provide more than 2000 MW of added power and enable us to achieve a more sustainable, secure and affordable energy ecosystem for our country,” he added.

(Writing by Nada Al Rifai, Editing by Seban Scaria)

nada.rifai@refinitiv.com

#power #saudiarabia #investment #utility #energy

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