Half-owned by the Public Investment Fund, ACWA won the contract after it bid the lowest tariff of $2.57 per kilowatt hour.
Saudi Arabia-based utility provider ACWA Power will build and operate a 100 megawatt wind farm in Uzbekistan, in a tender supported by the European Bank for Reconstruction and Development.
Half-owned by the Public Investment Fund, ACWA won the contract after it bid the lowest tariff of $2.57 per kilowatt hour, the bank said in a release.
“The tariff achieved represents a major success for the country’s power sector and shows what a combination of ambitious policy targets and proper competition can achieve,” Aida Sitdikova, a director at EBRD, said.
The new wind farm will be located in the Qorao’zak District, and is expected to diversify energy supply and increase energy security in the autonomous republic north west of Uzbekistan.
The central Asian country has been keen on increasing its renewable energy capacity. It wants to install 5,000 MW of solar and 3,000 MW of wind energy by 2030.