ACWA Power:Uzbekistan Signs over $2 bln Worth of Deals with Saudi's ACWA Power

MOSCOW: Uzbekistan has signed more than $2 billion worth of strategic agreements with Saudi developer ACWA Power to boost electricity generation and develop technical expertise, its energy ministry said on Thursday.

The deals include a 25-year power purchase agreement worth $1.2 billion which will see ACWA build and operate a gas-turbine power plant in the country, the ministry said.

The project, on which Tashkent invited bids this week, will boost Uzbekistan's total capacity by 12 per cent.

The agreements also include a $550 million-$1.1 billion deal to build a wind power plant.

The Central Asian nation has already struck a deal with the United Arab Emirates' Masdar to build a 100 MW solar plant, and has announced plans for three more 200 MW solar facilities.

It is also working with Russia's Rosatom to build a nuclear power plant.