acwa

ACWA Power secures historic debt financing deal with Bank of China for 200-MW solar project in Uzbekistan, marking a milestone in Saudi-Chinese collaboration.

ACWA Power and China Energy International Group sign EPC contract for Uzbekistan's solar PV project, promising to bring clean energy to the region and support Uzbekistan's commitment to a low-carbon economy.

Offtake agreements will fund three PV projects, which will certainly be established with PIF subsidiary Badeel

The agreements cover three consolidated PV and also storage projects

The group will certainly establish the 1GW project with an initial financial investment of over US$ 1bn.

Both organisations will certainly cooperate over the following 5 years as well as will certainly concentrate on project development in renewable energy, green hydrogen and green desalination across nations. The nations of focus consist of Uzbekistan, Azerbaijan and also Egypt, with the objective of supporting sustainable power transition there.

Several of the globe's leading eco-friendly energy gamers have actually tabled ultra-low proposals under the 2nd round of Saudi Arabia's renewable resource program, readied to get a 1.47 GW overall.

The solar field will become operational in Q2 of 2021. This is the project for deployment of phase five of the huge 5-gigawatt Mohammed bin Rashid Al Maktoum solar farm.