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Uzbekistan signs 2 billion USD energy agreements with Saudi Arabia's ACWA Power

Christian Fernsby |
Uzbekistan has signed strategic agreements with Saudi Arabia's ACWA Power company to build thermal and wind power plants worth of 2 billion U.S. dollars, the country's ministry of energy said.

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One of the agreements envisages a 25 year power purchase agreement with a total investment value of 1.2 billion dollars for a 1.5 GW gas turbine power plant to be built in Sirdaria region, the ministry said.

National Electric Networks of Uzbekistan will act as the sole buyer of electricity under the power purchase agreement, according to the statement.

According to another agreement, ACWA Power will invest up to 1.1 bln U.S. dollars to build a wind farm with the capacity of 1 GW, the ministry said.

"Since infrastructure development is the key to our economic progress, we need the best international experience to support our ambitious energy goals. We selected ACWA Power as a strategic partner in expanding the power generation capacities in Uzbekistan due to their exceptional experience ..." the statement quoted Minister of Energy Alisher Sultanov as saying.

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