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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
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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.

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IMF, Ukraine Reach Deal That Would Give It Access to Some $1.1 Bln 

People walk on a pedestrian bridge during the sunset in city center of Kyiv, Ukraine, September 9, 2024. (AP)
People walk on a pedestrian bridge during the sunset in city center of Kyiv, Ukraine, September 9, 2024. (AP)
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IMF, Ukraine Reach Deal That Would Give It Access to Some $1.1 Bln 

People walk on a pedestrian bridge during the sunset in city center of Kyiv, Ukraine, September 9, 2024. (AP)
People walk on a pedestrian bridge during the sunset in city center of Kyiv, Ukraine, September 9, 2024. (AP)

The International Monetary Fund said on Tuesday it had reached a preliminary agreement with Ukraine that would give the war-torn country access to about $1.1 billion in financial assistance.

The agreement follows what Kyiv said on Tuesday were "difficult" talks and is subject to approval by the fund's executive board, which the IMF said in a statement is expected to happen in "coming weeks".

The IMF is a key international lender to Kyiv and its four-year $15.6 billion program is a crucial part of a bigger global economic support package to Ukraine as it gears up for a third winter trying to fend off Russia's full-scale invasion.

"Russia's war in Ukraine continues to have a devastating impact on the country and its people," Gavin Gray, who led the IMF's monitoring mission to Kyiv for the fifth review of the lending program, said in a statement.

"Skillful policymaking, the adaptability of households and firms, and robust external financing has helped support macroeconomic and financial stability."

The IMF, however, said that the risks to Ukraine "remain exceptionally high" with an economic slowdown expected due to the impact of the war on labor market and Russia's continued attacks on the energy infrastructure, among other factors.

Kyiv is spending about 60% of its total budget to fund its army and relies heavily on financial support from its Western partners to pay pensions and wages to public sector employees and finance social and humanitarian spending.

Ukraine has received about $98 billion in financial aid from its Western partners since the start of the war, finance ministry data showed.

The IMF urged the Kyiv government, which President Volodymyr Zelenskiy reshuffled last week, to "respect financing constraints and debt sustainability objectives" in the 2025 budget and look for ways to increase domestic revenues.

The government has said previously it plans to raise taxes and has already implemented other fiscal measures, including increasing import and excise duties.

Ukraine also won an agreement from bondholders to restructure and write down its debt.