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ACWA Power Co. announces signing of three power purchase agreements by its affiliated project companies with the National Electric Grid of Uzbekistan for three solar PV plants for a total combined capacity of 1,400MW.
2082
ACWA POWER
-5.71
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1444/08/27 19/03/2023 15:25:02
| Element List | Explanation |
|---|---|
| Introduction | ACWA POWER Company announces the signing of power purchase agreements (PPAs) with the National Electric Grid of Uzbekistan(NEGU), for the development, construction, operations and ownership of three solar photo voltaic (“PV”) electricity generation facilities at a total combined capacity of 1,400 MW and three Battery Energy Storage System (“BESS”) with a total combined capacity of 1,500 MWH. These facilities will be located in Tashkent, Samarkand and Bukhara regions of Uzbekistan. |
| Date of Announcement of the Award | 2023-03-18 Corresponding to 1444-08-26 |
| Contract Subject Matter | Power Purchase Agreements (PPA) in respect of 1 x 400MW plus 2 x 500MW solar PV power Plants and 1,500 MWH BESS capacity co-located in Tashkent, Samarkand and Bukhara regions in Uzbekistan, respectively |
| Date of Signing the Contract | 2023-03-18 Corresponding to 1444-08-26 |
| Contract Value | USD 2.5 billion |
| Contract Details | Development, Construction, Operation and Ownership of Solar PV and BESS projects |
| Contract Duration | 25 years |
| Financial Impact and the Relevant Period | The financial impact of the contracted revenues is expected to materialize once the plants become commercially available expected currently expected in Q3 of 2025 and Q3 of 2026. |
| Related Parties | N.A. |
| Additional Information | The facilities are expected to offset 1.6 million tons of carbon emissions per year and power 1.1 million households, when completed. |
The Capital Market Authority and Saudi Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.
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Last Price 396.0
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