Monday, May 27, 2024
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The Largest Wind Farm in Central Asia is Acquired by ACWA Power for $4.85 Billion

The largest private water desalination company in the world, Saudi-listed ACWA Power, a pioneer in the energy transition and the first to introduce green hydrogen, signed a $4.85 billion Power Purchase Agreement (PPA) with the National Electric Grid of Uzbekistan for the Aral 5GW Wind Independent Power Producer (IPP) project in the Karakalpakstan region, Central Asia’s largest wind farm, on the fringes of the Tashkent International Investment Forum, which was hosted under the patronage of President Shavkat Mirziyoyev, President of the Republic of Uzbekistan.

“With its ambitious and decisive leadership, Uzbekistan is driving its energy transition,” stated Mohammad Abunayyan, the founder and chairman of the board of ACWA Power. This historic project will provide clean power to approximately 4.5 million houses in Uzbekistan.” To better the lives of millions of people in a nation with which we are honoured to have close ties, we are pleased to work with the government of Uzbekistan to export our low-carbon expertise outside of Saudi Arabia’s borders.

Five stages will comprise the deployment of the Aral Wind IPP. This flagship project will reach a significant milestone in Uzbekistan’s green energy sector, which will produce about 18,500 GWh of clean electricity annually, displace 247 billion tonnes of CO2 over its lifetime, and power about four million homes.

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Monday, May 27, 2024

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