ACWA Power signs agreements to develop 1.5 GW wind farm in Uzbekistan

ACWA Power has signed a Heads of Terms agreement with the government of the Republic of Uzbekistan for the development of a 1.5 GW onshore wind farm in Karakalpakstan, north-western Uzbekistan.

The project has the capacity to generate enough energy to power 1.65 million households and offset 2.4 million tonnes of carbon emissions per year. The US$2.4billion project is expected to achieve a financial close by the end of 2023 and be fully commissioned by the first quarter of 2026.

The corporation and the same ministries also signed an Investment Cooperation Agreement (ICA) under which all parties will work together to build projects in the fields of gas-to-power, wind, hydroelectric, and green hydrogen valued at US$10 billion over a five-year period beginning in 2023.