ACWA Power to build $1.2bn gas-fired power plant in Uzbekistan
March 09, 2020 – The Ministry of Energy of Uzbekistan has signed three new agreements, worth over $2bn, with the Saudi Arabian utility developer ACWA Power to strengthen the country’s energy industry.
The company has signed a 25-year power purchase agreement (PPA) with the Ministry of Investments and Foreign Trade of Uzbekistan.
The deal allows the firm to develop the 1.5GW combined-cycle gas turbine (CCGT) power plant in Shirin City in the Syrdarya region, under the ‘build, own, operate, transfer’ model.
The power generated by the $1.2bn CCGT power plant will be sold to JSC National Electric Grids of Uzbekistan.
Additionally, the ACWA Power signed an implementation agreement, worth $550m-$1.1bn, with the Ministry of Energy for the development of a wind farm with a generation capacity of 500-1,000MW.
A memorandum of understanding (MOU) has also been signed between the Ministry of Energy of Uzbekistan, Air Products & Chemicals and ACWA Power.
The MOU will enable the development of a training centre to enhance the students’ technical expertise.
Uzbekistan Minister of Energy Alisher Sultanov said: “These newly agreed power projects represents a historic milestone for Uzbekistan and supports our mission to strengthen energy security through self-sufficient power sources.
“ACWA Power’s focus on smart, energy-efficient technologies will provide more than 2000 MW of added power and enable us to achieve a more sustainable, secure and affordable energy ecosystem for our country.”
ACWA Power chairman Mohammad Abunayyan said: “Our partnership will create new opportunities for national and community development and help build a sustainable future for all the people of this great country.”
In 2019, a consortium of ACWA Power, Gulf Investment Corporation (GIC) and Alternative Energy Projects (AEPCo) was selected by the Oman Power and Water Procurement Company (OPWP) to develop the 500MW Ibri-2 solar project in Oman.