Published: 25 January 2021 25 January 2021
Following agreements signed in March 2020, cooperation between the Uzbekistan Ministry of Energy, the Ministry of Investments and Foreign Trade, and ACWA Power have now signed two Power Purchase Agreements and Investment Agreements for two wind power plants located in Bukhara and Navoi.
The two Power Purchase Agreements for the two wind power plants; with an aggregate power generation capacity of 1000MW was signed by Isakulov Dadajon Aynakulovich, Chairman of JSC National Electric Grids of Uzbekistan and Rajit Nanda, Chief Portfolio Management Officer and Interim CIO of ACWA Power. The two Investment Agreements were signed by H.E. Sardor Umurzakov from the Ministry of Investments and Foreign Trade and Mr. Abunayyan Chairman of ACWA Power. The ‘Bash’ and ‘Dzhankeldy’ plants which are located in the Bukhara and the Bukhara/Navoi regions respectively, have a total investment value of US$ 1.3 billion, and are expected to offset 1.6 million tonnes of carbon emissions per year. Powered by approximately 200 wind turbines, the projects will contribute one third of Uzbekistan’s 3GW wind energy targets, supplying 2.7 million households and supports the government’s aims to have 30 percent of its power capacity from renewable sources by 2030.
Further the Uzbekistan Ministry of Energy, ACWA Power and Air Products hav entered into a strategic framework agreement to develop research programs and projects in the field of hydrogen and renewable energy. The agreement was signed by H.E. Alisher Sultanov, Energy Minister of the Republic of Uzbekistan and Mohammad Abunayyan, Chairman of ACWA Power.