ACWA Power to construct a $262 million wind power plant in Karakalpakstan

The Saudi company ACWA Power plans to construct a wind power station (WPS) with a total capacity of 200 MW in Karakalpakstan, the Ministry of Economy and Finance reports.

According to the department, during the first quarter, 25 public-private partnership (PPP) agreements were concluded for a total amount of $311.65 million.

Supported by EBRD, the Government of Uzbekistan and ACWA Power signed an agreement on March 28 for the construction of a 200 MW wind power station and a 100 MW electricity storage system on PPP terms.

The cost of the 'green' energy project is estimated at $262.65 million.

In addition, 10 PPP agreements worth $26.38 million were related to the water supply area, and 9 agreements worth $20.46 million were in the field of education. Another five agreements totaling $2.14 million were related to the cultural sector.

On March 2, the Ministry of Economy and Finance and the EBRD also signed a cooperation agreement on 10 million euros to create a PPP Project Development Fund. EBRD will manage the funds intended for payment of consulting services.

At the end of November last year, the Ministry of Energy recognized ACWA Power as the winner of the tender for the construction of a wind farm in the Beruni and Karauzyak districts of Karakalpakstan, which, supported by EBRD, launched in April 2022.

The Saudi company offered a price of 4.09 cents per 1 kWh of electricity, while its main competitor Abu Dhabi Future Energy PJSC (Masdar) valued the project at 4.99 cents per kilowatt-hour.