RIYADH: ACWA Power Co. said it will sign today a $2.4 billion deal with the government of Uzbekistan for a 1,500-megawatt wind project, a bourse filing revealed.
“This project would be the biggest single site onshore wind project in the region and the world and will contribute 19 percent to Uzbekistan’s overall renewable energy goals,” the PIF-owned energy giant said in a bourse filing.
To be located in Karakalpakstan, Uzbekistan, the facility seeks to power 1.65 million households and offset 2.4 million tons of carbon emissions per year.
Expected to achieve a financial close by the end of 2023, the project is likely to be fully commissioned by the first quarter of 2026.
The agreement duration is 25 years and will be signed with the Uzbekistani Ministry of Energy and Ministry of Investment & Foreign Trade.