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Luberef net profit falls 7% in Q1

A fall in by-products sales leads to profit dip.

SABIC net loss $322 million

The company's net profit was $66m in Q1 2024

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Emirates expects first 777X delivery in H2 2026

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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.

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