Riyadh – Mubasher: ACWA Power Wind Karatau, an affiliate of the International Company for Water and Power Projects (ACWA Power), has penned a power purchase agreement (PPA) with the National Electric Grid of Uzbekistan (NEGU) for the 100-megawatt Nukus wind project.

The Saudi listed ACWA Power won the bid after submitting a tariff of 2.5695 USD cents per kilowatt hour (kwh), according to a bourse disclosure on Sunday.

The contract duration is 25 years from the date of signing the agreement on 19 December 2021.

ACWA Power added that the financial impact of this PPA will likely reflect on the income statements of the first quarter (Q1) of 2024.

It is worth noting that the wind farm, which is valued at $108 million, is situated in the Karakalpakstan region, in North-western Uzbekistan. The project is considered the first wind project through public tendering in Uzbekistan, having the lowest tariff in for wind energy farms in the country.