The Clap
ACWA Power (2082) signed a power purchase agreement with the national electricity grid in Uzbekistan worth 985.1 million riyals (262.7 million dollars).
Details
The globally leading Saudi company in water desalination, power generation, and green hydrogen stated that the agreement falls under the public-private partnership system.
This is part of the “Nukus 2” project for wind energy and battery energy storage in Uzbekistan, with a capacity of 200 megawatts.
So What
ACWA Power noted that the contract includes construction, ownership, operation, and transfer at the end of the 25-year power purchase agreement.
The company expects the financial impact of the operation to become clear after the first half of 2026.
It also mentioned that the project is in the development stage and the total investment value may change upon achieving financial closure.
Some context
ACWA Power owns a portfolio of 12 projects in the Republic of Uzbekistan, 11 of which are entirely based on renewable energy.
The Asian country is the company’s “second-largest investment market” of total investment value after its main Saudi market.
Now What
ACWA Power announced the signing of a 32-year water purchase agreement with the Senegalese Ministry of Water and Sanitation and the Senegalese Water Company “SONES.”
This is to establish a seawater desalination plant in the capital, Dakar, with an amount of 3 billion riyals (800 million US dollars).
The partially-owned company by the Public Investment Fund stated that it will design, build, operate, and maintain the desalination plant in Senegal.
In addition to designing and constructing the infrastructure associated with the project.
The construction work will be carried out in two phases, with each having a production capacity of 200,000 cubic meters per day.
ACWA Power expects the financial impact of the project to be evident after the operation of the first phase by the first quarter of 2028.
