ACWA Power won Uzbekistan’s first public tender for a wind farm with lowest tariff of $2.57

RIYADH: Saudi Arabia’s ACWA Power won a bid to construct Uzbekistan’s first wind project through public tendering process.

The PIF-Backed ACWA Power has signed a 25-year power purchase agreement to construct the $108-million wind farm for the National Electric Grid of Uzbekistan, the company said in a bourse filing.

Under the deal, ACWA will charge a $2.57 cents per KW/hour, which the lowest tariff in for wind energy projects in the country, the filing said.

Located in Northwestern Uzbekistan, the Nukus power plant will operate at a 100 MW capacity.

The company added that the project’s financial impact is expected to be reflected in the first quarter of 2024.