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Uzbekistan signs milestone agreements with ACWA Power
Uzbekistan’s Ministry of Energy has signed three new strategic agreements, worth over $2bn, with the Saudi Arabian utility developer ACWA Power to increase power generation in the Caspian state and develop technical expertise.
The agreements include:
- A 25-year power purchase agreement (PPA), with a total investment value of $1.2bn, for the development, construction and operation of a 1,500 MW combined cycle gas-turbine (CCGT) power plant to be located in Shirin City in the Syrdarya region. The PPA has a 25-year duration, with National Electric Grids of Uzbekistan acting as the sole off-taker. The CCGT plant’s efficiency rate will be in excess of 60% – saving almost twice the natural gas currently used for electricity production.
- An implementation agreement worth $550mn–1.1bn for the building of a wind power plant with a capacity of 500–1,000 MW of clean energy.
- A memorandum of understanding for the development of a training centre to enhance technical skills of Uzbek students