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ACWA POWER Company announces the signing of purchase agreements with Uzkemyoasat and the National Power Grid of Uzbekistan for the first Green Hydrogen project in Uzbekistan.
| Element List | Explanation |
|---|---|
| Introduction | ACWA POWER Company announces the signing of a Hydrogen purchase agreement with Uzbek state owned chemical company Uzkemyoasat and a Power Purchase Agreement (PPA) with the National Power Grid of Uzbekistan. The hydrogen offtake capacity is 3000 tons per year, and Renewable capacity ranges from 52-100 MW. |
| Date of Announcement of the Award | 2023-05-17 Corresponding to 1444-10-27 |
| Contract Subject Matter | 1- Hydrogen Purchase Agreement (HPA) 2- Power Purchase Agreement (PPA). |
| Date of Signing the Contract | 2023-05-17 Corresponding to 1444-10-27 |
| Contract Value | 100 million USD |
| Contract Details | Development, construction, and operation of the project. |
| Contract Duration | HPA: 15 years PPA: 25 years |
| Financial Impact and the Relevant Period | The Financial impact is expected once the project achieve commercial operations in June 2024 and June 2025 |
| Related Parties | NA |
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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