ACWA Power, a leading Saudi Arabian developer, investor, and operator of power generation and desalinated water plants, has secured a contract to construct a 200 MW wind power plant in the Karaozak and Beruniy districts of Uzbekistan. The project will be financed by the European Bank for Reconstruction and Development.

The tender saw participation from two bidders, with ACWA Power offering a competitive rate of $4.09 per kWh for electricity generation and storage, outbidding Masdar’s offer of $4.99. The price encompasses both the cost of electricity generation and storage, rather than charging separately for each service.

This is not ACWA Power’s first venture in Uzbekistan. Two years ago, the company won the contract to construct the country’s first wind power plant, a 100 MW facility in Karaozak, with a winning bid of $2.57 per kWh of electricity.

Photo: ACWA Power secures contract for 200 MW wind power plant in Uzbekistan
Source: Daryo

ACWA Power’s commitment to renewable energy is evident in its diverse portfolio of projects. They are developing a 240 MW wind project in Azerbaijan, which is expected to produce around 1 TWh/year of electricity. They also have a 10 GW wind power plant in Egypt, which is expected to provide the Egyptian economy with US$6.5 bn in savings in annual natural gas costs. In Uzbekistan, they are involved in the development of the Bash 500 MW Wind Farm and the Dzhankeldy 500 MW Wind Farm.

These projects underscore ACWA Power’s role in advancing the global transition to renewable energy, contributing to carbon reduction, and promoting economic growth in their operating regions.