ACWA Power has finalized the project agreements for the 100MW Nukus wind project in the Republic of Uzbekistan.
Valued at US$108 million, the Nukus wind farm is located in the Karakalpakstan region, in North-western Uzbekistan.
“We welcome this agreement as a further indication of ACWA Power’s commitment to Uzbekistan’s energy future. It is also a validation of the open and transparent bidding process we have put in place, with 12 well-qualified international bidders competing. We look forward to working with ACWA on this and its other exciting projects in our country”, said Alisher Sultanov, Uzbekistan Minister of Energy.
“The Nukus wind farm is ACWA Power’s fourth project in Uzbekistan, after the US$1.2 billion Sirdarya project, which is a 1500MW Combined Cycle Gas-Turbine (CCGT) power plant, the 500 MW Bash facility and the US$1.3 billion Djankedly wind power project in Bukhara. “
“We are delighted to continue our expansion in Uzbekistan. The signing of the power purchase agreement for the Nukus wind farm is yet another landmark achievement for the country and our company, as it reinforces our growing relationship with the Uzbek government and our commitment to accelerating the country’s energy transition.” said Mohammad Abunayyan, ACWA Power Chairman.
“Uzbekistan is undergoing tremendous change as it progresses quickly towards an industrialized, connected and economically prosperous future. To achieve these goals, energy demand is set to increase rapidly and we at ACWA Power have the expertise, experience and technological know-how to deliver on these ambitions while ensuring the trajectory to achieving the net-zero commitment, all as demonstrated by our work in our home market of Saudi Arabia, and beyond. We look forward to continuing working with our government partners in Uzbekistan in realizing their plans”, said Paddy Padmanathan, President & CEO of ACWA Power.
This project is Uzbekistan’s first publicly tendered wind project. ACWA Power won the competitive bid after proposing a tariff of US 2.5695 cents/kwh.
Representatives from the Public-Private Partnership Development Agency under the Ministry of Finance of Uzbekistan, the Ministry of Energy of Uzbekistan, the Ministry of Investment and Foreign Trade of Uzbekistan and the European Bank for Reconstruction and Development (EBRD) were also presented during the signing ceremony.
The project seeks to bolster the Uzbekistan government’s efforts to diversify the country’s energy mix and increase its renewable energy capacity in line with recent strategic reforms.
The country’s Ministry of Energy is targeting an 8GW capacity for solar and wind energy by 2026.