The Clap
ACWA Power (2082) signed a power purchase contract with the Uzbek National Electric Grid for the construction of 3 wind power plants with a total capacity of 1.5 gigawatts in the Kungrad region of the Uzbek Republic of Karakalpakstan.
What
The contract is worth $2.4 billion and the project will take place over 25 years after construction is completed.
The project was divided into 3 project companies at the site, each of which is developing a wind power plant with a capacity of 500 megawatts.
So What
ACWA Power has indicated that the Kungrad Wind Farm, formerly known as the Karakalpakstan Independent Wind Farm, will be the largest single-site wind farm of its kind in Central Asia and one of the largest in the world.
It is expected to reduce 2.4 million tons of carbon emissions annually, and provide energy to 1.65 million households.
Now What
The company expects the financial impact will begin after the start of commercial operation during Q3 2027.
