The project of one of the largest wind farms in the region will be implemented by the subsidiaries of ACWA Power.
Shavkat Mirziyoyev outlined measures for the construction of a wind power plant in the Kungrad district of Karakalpakstan. Presidential resolutions were published in the Lex.uz database.
Saudi ACWA Power will provide investment for the project. In addition to the 1,500 MW wind farm, it includes 300 MW of electricity storage systems, a 500-kilovolt substation and overhead power lines.
The contractors for these projects will be three ACWA Power subsidiaries – Kungrad Wind 1, Kungrad Wind 2 and Kungrad Wind 3. Each of them will act as the operator of a 500 MW wind farm and a 100 MW battery system.
As noted in the resolutions, Kungrad Wind 1 raised $1.067 billion for the construction of the future wind farm and adjacent infrastructure. Two other contractors received $667 million each for the project.
National Grid, under an agreement signed in December 2022, pledged to guarantee the purchase of electricity for 25 years. The tariff is set at a fixed rate in foreign currency, while payment is made in national currency.
The head of state approved investment agreements with all three companies and their contracts with NEG. They were allowed to open foreign accounts and make payments directly to foreign contractors, suppliers and creditors.
The initial agreement on the wind farm project was reached in the spring of 2021. Construction of the largest wind farm in Central Asia is expected to begin in 2024, and launch is planned before the end of 2026.
ACWA in Uzbekistan is also involved in other projects. Thus, the company is building another 100 GW wind farm in Karakalpakstan and is participating in the creation of two 500 MW wind farms in the Bukhara region.
It also signed agreements to create two photovoltaic power plants, as well as energy storage complexes. In addition, ACWA is investing in the construction of thermal power plants in the Syrdarya region, as well as in the production of “green” hydrogen in Chirchik.
