The Saudi ACWA Power Company signed a power purchase agreement with the Uzbek National Electric Grid for three special-purpose companies operating in wind power plants.
According to Arabiya.net, the value of the contract is $2.4 billion, and its duration is 25 years after construction is completed.
This agreement aims to establish a station with a capacity of 1.5 gigawatts in the Kongrad region in the Republic of Karakalpakstan, Uzbekistan.
It expected the financial impact to begin after the start of commercial operation by the third quarter of 2027.
ACWA Power indicated that the project was divided into 3 project companies on site, each of which is developing a 500 megawatt wind power plant, and each of the project companies has entered into a separate power purchase agreement.
According to ACWA Power, the Kongrad wind farm, formerly known as the Karakalpakstan Independent Wind Power Plant, will be the largest single-site wind farm of its kind in Central Asia and one of the largest in the world.
It added that it is expected to reduce 2.4 million tons of carbon emissions annually and provide energy to 1.65 million households.
