Acwa Power inks PPAs for Uzbekistan wind farm: Tadawul-listed Acwa Power signed power purchase and investment agreements with the National Electric Grid of Uzbekistan for a 1.5 GW wind energy farm, according to a statement released last week. The mega project — said to be Central Asia’s largest — will have a price tag of USD 2.4 bn.

The details: The farm will contain three 500 MW wind energy facilities, which will offset some 2.4 mn tons of CO2 emissions yearly once operational, the statement notes. Each of the projects will also include a 100 MW capacity battery storage system.

Other GCC countries are interested: The UAE’s Masdar achieved financial close in September on a USD 600 mn, 500 MW wind farm in Uzbekistan, with commercial operations expected to start by 4Q 2024.

Acwa is solidifying its foothold in Asia: The Saudi energy giant will establish a USD 7 bn green hydrogen and derivatives production project in Thailand, targeting the production of 225k tons of green hydrogen annually. The company is also currently developing a 240 MW wind farm in Azerbaijan, with reported investment of USD 300 mn — said to be the “first and largest foreign investment” in the country’s renewable energy sector. A non-binding MoU for a 1 GW solar project in Bangladesh is also in the cards, along with floating solar plants, renewable energy battery storage, green hydrogen facilities, and hydroelectricity projects in Indonesia.