Sign inSubscribe

Search Site

VideosInforgraphics
Sign inSubscribe
Trends banner

Business

ADNOC shifts OMV stake to XRG

XRG is ADNOC's wholly-owned international investment company.

SIB H1 net profit $189m

The bank's total assets increased by $1.49 billion.

TSMC’s H1 revenue up 40 percent

Robust demand for AI technology behind the surge.

‘Wadeem’ sold out for $1.49bn

This is the highest Abu Dhabi real-estate release to date.

Tesla Q2 sales down 13.5%

Shares rally after the disclosure, better than some forecasts.

ACWA Power to sign $2.4bn wind power project deal in Uzbekistan

The agreements signed with SPCC are valued at $3.9 billion.
By TRENDS Desk
August 17, 2022 2:06 pm
  • It will be the biggest onshore wind project in the region and will contribute 19 percent to Uzbekistan’s overall renewable energy goals
  • The plant once completed will power 1.65 million households and offset 2.4 million tons of carbon emissions per year.

ACWA Power Company will join hands with Uzbekistan in order to enter into  a $2.4 billion deal for a 1,500-megawatt wind project, a bourse filing disclosed.

The PIF-owned company said in a bourse filing: “This project would be the biggest single site onshore wind project in the region and the world and will contribute 19 percent to Uzbekistan’s overall renewable energy goals.”

The facility in Uzbekistan seeks to power 1.65 million households and offset 2.4 million tons of carbon emissions per year.

The project is likely to be fully commissioned by the first quarter of 2026.

The agreement duration is 25 years and will be signed with the Uzbekistani Ministry of Energy and Ministry of Investment & Foreign Trade.

[adinserter block="5"]

Most Read

UAE’s working mothers get extended maternity leave

The Gulf country is setting a new benchmark for supporting working mothers by doubling the mandated maternity leave to 120 days, Kathryn Martin VFS Global tell TRENDS.

Getting vaccinated is ‘the most patriotic thing’ to do

The Fourth of July is a sacred day in our country. A day of history, of hope, remembrance and resolve with promise and possibilities. Before me stands monuments of the…

Saudi Arabia to generate $150 billion in investments from its new transport policy

The government would provide thirty-five percent of the investments The rest of it, sixty-five percent, will come from the private sector Saudi Arabia expects to generate $150 billion from investments…

GCC healthcare: Transforming the region and impacting the world

PwC forecasts that AI could contribute US$320 billion to Middle Eastern economies by 2030, with healthcare predicted to see some of the largest gains relative to its current size

New-Age Growth Comes Home to the GCC

The region, fueled by ambition and massive investment, is rapidly advancing in technology and infrastructure, aiming to secure a leading role in the 4IR.

[adinserter block="4"]