Wind – ACWA Power signs power purchase and investment agreements for 1.5GW wind plant in Uzbekistan

The agreements have been signed on 23 December 2022. The wind farm will encompass three 500 MW wind energy initiatives owned by three subsidiaries, particularly ACWA Energy Kungrad Wind 1 LLC FE, ACWA Energy Kungrad Wind 2 LLC FE and ACWA Energy Kungrad Wind 3 LLC FE.

Every of the three initiatives will even incorporate a 100 MW capability battery vitality storage system. Thought to be the biggest single-site wind farm in Central Asia to this point, and one of many largest of its form on this planet, the wind farm is predicted to achieve an funding worth of USD 2.4 billion.

Beforehand, a Heads of Phrases settlement signed between ACWA Energy and Uzbekistan’s Ministry of Vitality and Ministry of Funding & Overseas Commerce in August 2022 laid the muse on which the facility buy agreements and funding agreements for the power have been to be procured.

Positioned in Kungrad district, Republic of Karakalpakstan, in Uzbekistan, the wind farm is predicted to offset 2.4 million tonnes of carbon emissions per 12 months and may have minimal environmental affect as a result of utilisation of the newest mitigation applied sciences, together with hen detecting expertise, that mixes innovative expertise in each picture sensors and software program to stop hen collision or fatality.

The Kungrad wind farm will bolster the Uzbek authorities’s long-term technique to diversify the nation’s vitality combine, which targets 8GW and 12GW of photo voltaic and wind capability by 2026 and 2030, respectively.

“It’s my nice pleasure to share an replace on the progress of the Kungrad venture. Uzbekistan is dedicated to delivering on coverage objectives to extend the renewable vitality share of the nation’s vitality combine and scale back carbon emissions” mentioned Jurabek Mirzamakhmudov, Minister of Vitality of Uzbekistan. “The event of inexperienced vitality and market reform go hand in hand in Uzbekistan, and the Kungrad venture is a milestone each for our wind trade and the brand new public-private partnership mannequin, launched by the far-sighted reforms of President Mirziyoyev. The wind farm in Karakalpakstan, which shall be constructed by our dependable accomplice ACWA Energy, shall be one other pillar of a sustainable and dependable vitality system in Uzbekistan

The venture is predicted to realize monetary shut by 2024 and shall be absolutely commissioned in 2027. When full, the power is predicted to energy 1.65 million households.

Moreover, beneath the US$10 billion funding cooperation settlement signed between ACWA Energy and the Uzbek authorities in August 2022, ACWA Energy formalised agreements for the event of large-scale inexperienced hydrogen services within the Republic of Uzbekistan. The intention of those initiatives is to cut back the nation’s dependency on pure gasoline; considerably contribute to Uzbekistan’s decarbonisation objectives; and additional help analysis within the area of inexperienced hydrogen.

The 1.5 GW Kungrad wind venture is ACWA Energy’s fifth venture in Uzbekistan. The corporate’s Uzbek portfolio additionally contains three wind farms, and a mixed cycle gasoline turbine venture. Uzbekistan is the second largest nation for ACWA Energy by way of total funding.

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