Saudi Arabia's ACWA Power Co has finalized a momentous power agreement with the National Electric Grid of Uzbekistan for the Aral Wind project, poised to become Central Asia's largest wind farm. The deal, valued at USD 4.85 billion (EUR 4.51 billion), marks a significant stride in bolstering Uzbekistan's renewable energy capacity.
The power purchase agreement (PPA) was ceremoniously inked on the sidelines of the Tashkent International Investment Forum, coinciding with the inauguration of ACWA Power's Riverside solar park's initial 100-MW phase in Uzbekistan, the company confirmed on Friday.
“Aral Wind stands as a testament to our commitment to spearheading sustainable energy solutions on a global scale,” stated ACWA Power spokesperson, reflecting the company's dedication to advancing renewable energy initiatives.
Aral Wind, an independent power producer (IPP) endeavor, is primed to revolutionize Uzbekistan's energy landscape by generating clean electricity equivalent to powering approximately 4.5 million households. The ambitious project will unfold in five phases, culminating in an estimated annual output of 18,500 GWh once the entire complex is operational.
With this landmark agreement, ACWA Power fortifies its position as a renewable energy leader in Uzbekistan, boasting an extensive portfolio comprising 10.1 GW of renewable assets. Notably, Aral Wind represents the 15th project the Saudi conglomerate has undertaken in the Central Asian nation, catapulting its total investments in the Uzbek market to a staggering USD 13.9 billion.
