ACWA Power Seeks Contract to Build New Power Plant
ACWA Power JSC, a Saudi energy company, has been selected as the winner of the bid to construct a 200 MW wind farm and energy storage facility in Karakalpakstan. The project will be located in the Beruniy and Karauzak districts and will be supported by the European Bank for Reconstruction and Development.
The selection process began in April 2022 and involved proposals from nine companies from various countries including the UAE, Saudi Arabia, China, India, France and Turkey. ACWA Power JSC emerged as the best choice by offering a price of 4.09 cents per kilowatt-hour of electricity, beating its main competitor, Abu Dhabi Future Energy PJSC (Masdar), which proposed the project at 4.99 cents per kilowatt-hour.
The company will now proceed to conclude an agreement with the Ministry of Energy and obtain all necessary approvals to begin the construction of the wind farm and energy storage facility. ACWA Power JSC already has existing projects in Uzbekistan, including the construction of two wind power plants in Karakalpakstan, two 500 MW wind farms in the Bukhara region, and agreements to develop photovoltaic power plants and energy storage complexes in the Tashkent and Samarkand regions. Additionally, ACWA Power JSC will invest $88 million in green hydrogen production in Chirchik and is also involved in the construction of a 1.5 GW gas power plant in Shirin, Syrdarya region.
The company’s growing presence in Uzbekistan reflects its commitment to investing in renewable energy and contributing to the country’s energy transition. With the successful implementation of this new project, Uzbekistan will take a significant step towards increasing its renewable energy capacity and reducing its reliance on traditional fossil fuels.
