ACWA Power has concluded the sale of 35 per cent of its ownership in the ACWA Power Bash Wind Project Holding Company Limited and ACWA Power Uzbekistan Wind Project Holding Company Limited to China Southern Power Grid International (HK) Co. Ltd (CSGIHK). This transaction marks the first co-investment between the two companies for a large-scale renewable energy project in Central Asia.
This partnership builds on agreements inked in December 2022 to finance, invest in and construct clean energy projects globally under the Belt and Road initiative. Furthermore, the Bash and Dzhankeldy wind power plants have a combined capacity of 1 GW and an investment of exceeding $1.3 billion.
Earlier this month, ACWA Power completed the dry financial close for the Tashkent Riverside project for a value of $533 million in Uzbekistan. This project includes a 200 MW solar photovoltaic facility and a 500 MWh battery energy storage system (BESS) to enhance the stability of Uzbekistan’s power grid. The total debt financing amounts to $386 million.
