Saudi Arabia’s ACWA Power Installs Largest Wind Turbine in Central Asia

The wind turbine generator (WTG) is the largest of its kind in Central Asia with a capacity of 6.5MW. SPA
The wind turbine generator (WTG) is the largest of its kind in Central Asia with a capacity of 6.5MW. SPA
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Saudi Arabia’s ACWA Power Installs Largest Wind Turbine in Central Asia

The wind turbine generator (WTG) is the largest of its kind in Central Asia with a capacity of 6.5MW. SPA
The wind turbine generator (WTG) is the largest of its kind in Central Asia with a capacity of 6.5MW. SPA

ACWA Power, a Saudi-listed company and the world's largest private water desalination company, the first mover into green hydrogen, and a leader in energy transition, has successfully installed the first wind turbine for its 500MW Bash wind farm project, located in the Bukhara region of Uzbekistan.

The wind turbine generator (WTG) manufactured by Envision is the largest of its kind in Central Asia with a capacity of 6.5MW. The installation of the wind turbine and generator was carried out by engineering, procurement and construction (EPC) contractor China Energy Engineering Corporation (CEEC).

CEEC was awarded the EPC contract for each of the 500MW wind farms in Bash and Dzhankeldy on December 7.

Remarking on the announcement, ACWA Power’s Chief Portfolio Management Officer (CPMO) Kashif Rana, said: "The successful installation of the first turbine on the Bash wind farm is just one of the many milestones that we are excited to mark on this project. Most importantly, the steady progress takes us closer to supporting and contributing to Uzbekistan’s long-term ambitions to increase the share of renewables in their energy mix."

When complete in the first quarter of 2025, the Bash wind farm will include 79 wind turbine generators (WTG) and is expected to generate more than 1,650 GWh of electricity annually and reducing carbon dioxide emissions by 750 tons per year.

ACWA Power has a 25-year power purchase agreement (PPA) with the JSC National Electric Grid of Uzbekistan for the project.

ACWA Power boasts an impressive portfolio of 10 projects in Uzbekistan, with a combined investment value of US$ 7.5 billion.

The company's continued investments and partnerships underline its dedication to the sustainable development of Uzbekistan's energy landscape, promoting economic growth, and advancing the country's renewable energy goals.



Gold Edges Higher as US Inflation Data Looms

Gold bullion displayed in a store in the German city of Pforzheim (dpa)
Gold bullion displayed in a store in the German city of Pforzheim (dpa)
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Gold Edges Higher as US Inflation Data Looms

Gold bullion displayed in a store in the German city of Pforzheim (dpa)
Gold bullion displayed in a store in the German city of Pforzheim (dpa)

Gold prices inched higher on Wednesday as the dollar eased, with traders' attention turning to key US inflation data that may influence the Federal Reserve's next policy decision.

Spot gold was up 0.2% at $2,524.54 per ounce, as of 0842 GMT. US gold futures edged 0.4% higher to $2,553.80.

The dollar index slipped 0.2%, making greenback-priced bullion more attractive to buyers holding other currencies, Reuters reported.

The US inflation Consumer Price Index (CPI) data is due at 1230 GMT. The headline CPI is expected to have risen 0.2% on a month-on-month basis in August, according to a Reuters poll, unchanged from the previous month.

The Fed will lower interest rates by 25 basis points at each of the three remaining policy meetings in 2024, according to a majority of economists in a Reuters poll that found only nine of 101 expected a half-percentage-point cut next week.

Lower rates boost the appeal of holding non-yielding bullion.

A rate cut should suggest a weaker dollar and by extension gold would benefit but the market might have over-positioned ahead of the long awaited Fed pivot, so prices might go lower before marching much higher, said independent analyst Ross Norman.

"Gold maintains its range-trading, but with a positive bias. We may see fresh highs in gold in 2024 and I would not be surprised to see a test of $2,650," Norman added.

Other data points due this week include the US producer Price Index reading and initial jobless claims.

Bullion has gained more than 22% so far this year and scaled successive record highs, fuelled by rate-cut optimism, geopolitical turmoil and robust central bank demand.

Among other metals, spot silver was up 1.3% at $28.76 per ounce, platinum inched 0.1% higher to $938.34 and palladium firmed 1.1% to $975.50.