March 5, 2020 / 6:17 PM / 23 days ago

Uzbekistan signs over $2 billion worth of deals with Saudi's ACWA Power

MOSCOW (Reuters) - 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%.

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.

Reporting by Olzhas Auyezov, Writing by Andrey Ostroukh; Editing by Tom Balmforth, Elaine Hardcastle and Jan Harvey

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