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ACWA Power Signs Energy Agreement for Nukus 2

ACWA Power signed an agreement to purchase energy for the Nukus 2 wind energy and battery storage project in Uzbekistan. The project has a capacity of 200 MW and a value amounting to 985.1 million Riyals. The agreement is under the partnership between the private and public sector and the National Electric Grid of Uzbekistan.

The company explained that the details of the contract include construction, ownership, operation and transfer at the end of the 25-year agreement. It pointed out that this project is still being developed. Therefore, it is possible that there will be a change in the total investment value during the financial closing. ACWA Power expects the financial impact of operation to become noticeable after the first half of 2026.

ACWA Power signed an agreement with the Ministries of Energy, Investment, Industry and Trade of the Republic of Uzbekistan, and an Uzbek company last December. The agreement aims to implement an 800-megawatt renewable energy and integrated green hydrogen project.

ACWA Power announced the start of the first phase of the green hydrogen project  in the Republic of Uzbekistan. It boasts a production capacity of up to 3,000 tons annually. This project consists of two phases. The first phase includes a pilot project to produce 3,000 tons of green ammonia annually. By the end of the project’s second phase, 500,000 tons of green ammonia will be produced annually through a 2.4 GW wind power plant.

Moreover, this is ACWA Power’s second project in the field of green hydrogen. The first is the NEOM green hydrogen plant project, which is a joint venture between ACWA Power, NEOM, and Air Products.

ACWA Power owns a portfolio of 12 projects in the Republic of Uzbekistan, 11 of which are based entirely on renewable energy. Thus, Uzbekistan is the company’s second largest destination in terms of value after its local market in KSA.

ACWA Power is the leader in energy transformation and the largest private company in the field of water desalination in the world.

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