Saudi Arabia?s ACWA Power has signed the power purchase agreement (PPA) and government support agreement (GSA) for the 100MW Qorao?zak wind independent power producer (IPP) project in Uzbekistan
ACWA Power signed the PPA with the offtaker, National Electric Grid of Uzbekistan, and the GSA with Uzbekistan?s Ministry of Finance.
The project is the first phase of a wider programme under which the EBRD is supporting the government to develop wind power capacity across Uzbekistan. The project also marked the first competitive tender for a wind project in the country.
Energy & Utilities reported in October that Acwa Power had been selected as the preferred bidder for the project after submitting a bid of US$25.65/MWh in the competitive tender in September.
Synergy Consulting is the lead and financial advisor to the EBRD and the Uzbekistan government for the project, with Dentons proving legal advisory services and Gope Intec and Juru Energy appointed as technical advisers.
The project is part of Uzbekistan?s target to develop significant wind and solar capacity by 2030. The country?s energy ministry had set a target of developing three gigawatts of wind capacity by 2030, however this target is expected to be increased to five gigawatts in the next review of the long-term development plan.
Uzbekistan is set to increase its 2030 target for solar energy from five gigawatts to seven gigawatts.
While the Qorao?zak project marks Uzbekistan?s first wind tender, ACWA Power has already agreed to develop significant wind capacity in the country through direct negotiations.
In May, ACWA Power signed the implementation agreement with the Uzbekistan Ministry of Energy for a planned 1,500MW wind farm in the Karakalpakstan area of Uzbekistan.
ACWA Power concluded agreements for two wind power projects in Bukhara and Navoi, which will have a combined total power capacity of 1,000MW.
