JEDDAH: Saudi ACWA Power’s $2.4 billion wind project in Uzbekistan will be operational by 2026, as the construction is expected to start next year, said a top official.
In an exclusive interaction with Arab News on the sidelines of the fourth meeting of the Saudi-Uzbekistan Business Council in Jeddah, Mohammad Abunayyan, chairman of the board of directors at ACWA Power, revealed that the 1.5GW Karakalpakstan wind project, located in north-western Uzbekistan, would be one of the biggest single-site onshore wind projects in Central Asia and the world.
“This is the biggest project in the world, where it is one phase, one location. And this is really a huge milestone and huge achievement for ACWA Power,” he said.
Abunayyan revealed that the firm signed total deals worth $5 billion with Uzbekistan, including the $2.4 billion wind project.
The wind project is expected to achieve a financial close by the end of 2023 and be fully commissioned by the first quarter of 2026. Upon completion, the facility is expected to power 1.65 million households and offset 2.4 million tons of carbon emissions per year.
This is ACWA Power’s fifth project in Uzbekistan as its portfolio also includes three wind farms and a combined cycle gas turbine project.
During the Saudi-Uzbekistan business council, ACWA Power also signed an investment cooperation agreement valued at $10 billion to explore gas, renewable energy, and green hydrogen project developments over the next five years in the Republic.
ACWA Power also signed a new collaboration agreement with the Uzbekistan Ministry of Energy and Air Products to focus on future investments in the green hydrogen sector.
The chairman revealed that ACWA Power’s green hydrogen project in NEOM is progressing steadily.
“It (green hydrogen project in NEOM) is going great. It is going really well. This is really due to the visionary leader, the Crown Prince Mohammed bin Salman, who is leading the new future, not only in energy but also in several other sectors,” said Abunayyan.
He further noted that Saudi Arabia’s Energy Minister Prince Abdulaziz bin Salman is leading the energy transition implementation in the Kingdom.
“He is extremely vital, important and relevant to all what ACWA does outside Saudi Arabia. He is supporting all these initiatives, all these projects,” Abunayyan added.
