The wind farm is claimed to be the largest single-site wind farm in Central Asia. Credit: JOHANNA MONTOYA on Unsplash.

Saudi energy firm ACWA Power has executed a $2.4bn power purchase agreement (PPA) with the National Electric Grid of Uzbekistan (NEGU).

Under the agreement, ACWA Power acquired three wind power special purpose vehicles (SPVs) to develop the 1.5GW Kungrad wind farm.

Go deeper with GlobalData

Premium Insights

The gold standard of business intelligence.

Find out more

Related Company Profiles

View all

The company noted that the 1.5GW project is split into three project companies, where each company at the site each developing will be responsible for developing a 500MW wind power plant with three separate PPAs.

The scope of the agreement includes the development, construction, and operation of the wind farm project.

The contract will have a 25-year duration period once the construction is completed.

See Also:

Previously called Karakalpakstan Wind IPP, Kungrad wind farm is claimed to be the largest single-site wind farm in Central Asia and one of the biggest in the world.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

Once completed, the wind project will have the capacity to power 1.65 million households in the region while displacing 2.40 million tonnes of carbon emissions annually.

ACWA Power estimates that the contracted revenues to have a positive effect on its income statements once the scheme achieves the commercial operating date (PCOD) in the third quarter of 2027.

Last month, ACWA Power and the Water and Electricity Holding Company (badeel) agreed to build, own and operate a 2.06GW solar photovoltaic project in Saudi Arabia’s Makkah province.

Located in Al Shuaibah region, the Al Shuaibah II project will be owned equally by ACWA Power and Badeel, which is a subsidiary of the country’s Public Investment Fund (PIF). It will be ACWA Power’s sixth solar energy facility in Saudi Arabia.