ACWA Power Co. announced signing a power purchase agreement with the National Electric Grid of Uzbekistan for three wind power SPVs to develop the 1.5 GW Kungrad wind farm. The Kungrad Windfarm, formerly referred to as the Karakalpakstan Wind IPP, will be the large single-site wind farm in Central Asia and one of the larger in the world, and is expected to offset 2.4 million tons of carbon emissions per year and power 1.65 million households, when completed.

Contract Subject Matter is Power Purchase Agreements (PPA) in respect of 3 X 500 MW wind power plants in the Kungrad district. Date of Signing the Contract is December 23, 2022. Contract Value is USD 2,400 million.

Contract Details are Development, construction, and operation of the project. Contract Duration is 25 years from construction completion. Project is split into 3 project companies at the site each developing 500 MW wind power plant with each of the project companies entering into a separate PPA.