Project is expected to be valued at US$ 2.4bn
ACWA Power recently signed the power purchase agreements (PPAs) and investment agreements (IAs) with Uzbekistan to develop the 1.5 GW Kungrad wind farm in the Republic of Karakalpakstan, Uzbekistan.
Each of the three projects will also incorporate a 100MW capacity battery energy storage system. Regarded as the largest single-site wind farm in Central Asia to date, and one of the largest of its kind in the world, the wind farm is expected to reach an investment value of US$ 2.4bn.
The PPAs were signed by Rohit Gokhale, Executive Vice President, ACWA Power and Dadajon Isakulov, Chairman, National Electric Grid, Uzbekistan, while the investment agreements were signed by Mohammad Abunayyan, Chairman, ACWA Power and Jamshid Khodjaev, Deputy Prime Minister & Minister of Investment and Foreign Trade.
“The wind farm in Karakalpakstan, which will be built by our reliable partner ACWA Power, will be another pillar of a sustainable and reliable energy system in Uzbekistan,” remarked Jurabek Mirzamakhmudov, Minister of Energy, Uzbekistan.
The project is expected to achieve financial close by 2024 and will be fully commissioned in 2027. When complete, the facility is expected to power 1.65 million households.