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The Ministry of Energy of
has signed three new strategic agreements, worth over $2 billion, with the Saudi Arabian utility developer ACWA Power. The agreements include:
The plant will be located in Shirin City in the Syrdarya region and will be developed under the 'Build, Own, Operate, Transfer' model. ACWA Power will take the lead in constructing, engineering, operating and maintaining the plant.
Signed with the Ministry of Investments and Foreign Trade of
, and with an estimated aggregate worth of
, the PPA has a 25-year duration, with JSC National Electric Grids of
acting as the sole off-taker. The CCGT plant's efficiency rate will be in excess of 60%.
An implementation agreement worth
has also been signed with the Ministry of Energy to utilise
natural renewable energy sources. ACWA Power will leverage the country's wind power to generate 500-1000 MW of energy.
The third agreement is an MoU between the Ministry of Energy of
, Air Products & Chemicals and ACWA Power. This agreement entails training programs to bolster the technical expertise of students at one or more colleges in
. It will equip potential talent with the tools and knowledge to gradually support a local supply chain for the utilities and chemicals sectors in Uzbekistan.
ACWA Power is a developer, investor and operator of power generation and desalinated water production plants. Currently present in 12 countries in the
South East Asia
, ACWA Power employs over 3,500 people with about 60percent local employment
ACWA Power's portfolio includes 56 assets with an investment value of
USD 45.5 billion
, producing 31 GW of power and 5.2 million m3 /day of desalinated water delivered on a bulk basis to address the needs of state utilities on long-term, off-taker contracts under Public-Private-Partnership model
Registered and established in 2004 in
Riyadh, Saudi Arabia
, ACWA Power is co-owned by nine Saudi conglomerates, including Vision International Investment Company, Public Investment Fund (PIF), Saudi Public Pensions Agency and the International Finance Corporation (a member of the World Bank Group