ACWA Power, a leading Saudi developer, investor, and operator of power generation, water desalination and green hydrogen plants worldwide, has signed on December 23, 2022, the Power Purchase Agreements (PPAs) and Investment Agreements (IAs) with the government of the Republic of Uzbekistan to develop the 1.5 GW Kungrad wind farm in the republic of Karakalpakstan, Uzbekistan; formerly referred to as the Karakalpakstan Wind IPP. The wind farm shall comprise three 500MW wind power projects owned by 3 subsidiaries, namely ACWA Power Kungrad Wind 1 LLC FE, ACWA Power Kungrad Wind 2 LLC FE and ACWA Power Kungrad Wind 3 LLC FE. Each of the 3 projects will also incorporate a 100MW capacity battery energy storage system.
The PPAs were signed by Rohit Gokhale, Executive Vice President, ACWA Power and Dadajon Isakulov, Chairman, National Electric Grid of Uzbekistan, JSC (NEGU); while the investment agreements were signed by Mohammad Abunayyan, Chairman, ACWA Power on behalf of ACWA Power, Rohit Gokhale, on behalf of the project companies, and Jamshid Khodjaev, Deputy Prime Minister & Minister of Investment and Foreign Trade, on behalf of the Ministry of Investment and Foreign Trade (MIFT). The agreements were signed in the presence of Khalid Al-Falih, Minister of Investment of Saudi Arabia, Jurabek Mirzamakhmudov, Minister of Energy, Republic of Uzbekistan, and senior executives from ACWA Power and the Government of Republic of Uzbekistan.