Riyadh – Mubasher: The Saudi energy company ACWA Power has inked three strategic agreements worth around $2.5 billion with the energy ministry of Uzbekistan to raise the power system efficiency in the latter.

The agreements include a 25-year power purchase agreement (PPA) and an investment agreement worth $1.2 billion for ACWA Power to construct and operate a 1500 MW Combined Cycle Gas-Turbine (CCGT) power plant in Uzbekistan, according to a press release on Sunday.

ACWA also agreed with Uzbekistan's ministry to build, finance, and run a 500-1000 MW wind power plant at a value ranging from $550 million to $1.1 billion.

Meanwhile, a memorandum of understanding (MoU) was inked to set up a training centre to improve the technical skills of Uzbek students and professionals.

The Minister of Energy of Uzbekistan, Alisher Sultanov, commented: “ACWA Power’s focus on smart, energy efficient technologies will provide more than 2000 MW of added power and enable us to achieve a more sustainable, secure and affordable energy ecosystem for our country.”

Meanwhile, the chairman of ACWA, Mohammad Abunayyan, remarked: “With our relentless pursuit to align with the pillars of the Saudi Vision 2030 and contribute effectively to achieving its aspirations and goals, we are moving forward on our path of global growth through expanding our geographical footprint and presence in central Asia.”