INSEAD-Day

Google to invest $6.4bn

The investment is its biggest-ever in Germany.

Pfizer poised to buy Metsera

The pharma giant improved its offer to $10bn.

Ozempic maker lowers outlook

The company posted tepid Q3 results.

Kimberly-Clark to buy Kenvue

The deal is valued at $48.7 billion.

BYD Q3 profit down 33%

This was a 33% year-on-year decrease.

ACWA to build Central Asia’s largest single-site wind farm in Uzbekistan

ACWA signed the implementation agreement with Uzbekistan’s Ministry of Investments and Foreign Trade and Ministry of Energy (Photo: ACWA Power)
    • The 1500MW plant expected to cater to power needs of about 4 million households

    • *ACWA Power also has a 1500MW high-efficiency gas-fired power project under construction in Sirdarya, Uzbekistan

    Riyadh: ACWA Power, a leading Saudi developer, investor and operator of power generation and desalinated water plants in 13 countries, has signed an agreement with the Uzbekistan ministry of energy for the development, construction and operation of a 1500-megawatt wind power project in central Asian country.

    The agreement was signed in presence of Prince Abdulaziz bin Salman, Saudi minister of energy, and Sardor Umurzakov, Uzbekistan’s deputy prime minister.

    Once operation, the project in Karakalpakstan will become the largest wind farm in the Central Asian region, and one of the largest in the world.

    The implementation, development, construction, and operation of the largest wind farm in the Central Asian region by a Saudi company reflects the Kingdom’s leadership in the field of energy and its capability to develop the human and technical potential for Saudi companies, especially in the renewables sphere, said a statement by ACWA Power.

    The announcement follows the signing of Power Purchase Agreements (PPA) and Investment Agreements for two wind power projects in Bukhara and Navoi, concluded earlier this year with an aggregate power generation capacity of 1000 megawatt.

    ACWA Power also has a 1500-megawatt, high-efficiency gas-fired power project under construction in Sirdarya, Uzbekistan.

    Umurzakov said the project will contribute to the implementation of the country’s national renewable energy target of bringing the total renewable power generation capacity to 25% by 2030.

    The project is expected to cater to the power needs of approximately 4 million households and offset approximately 2.5 million tons of carbon dioxide per year.