Aqua Power Signs Two Agreements for the Purchase of Hydrogen and Energy in Uzbekistan

Aqua Power announced the signing of a hydrogen purchase agreement with Uzkimiosanoate Chemical and State-Owned Company of Uzbekistan, and an energy purchase agreement with Uzbekistan’s national electrical grid.

The company said in its statement posted on the Saudi Stock Market website “Tadawul” on Thursday that the value of the purchase contract is USD 100 million.

The company noted that the production capacity of a hydrogen purchase agreement was 3 thousand tons of hydrogen per year, and renewable energy production capacity ranged from 52 to 100 megawatts.

The statement added that the contract period in a hydrogen purchase agreement was 15 years, while the contract period in the energy purchase agreement was 25 years. The financial impact will also be seen after the commencement of commercial operation in June 2024 and June 2025.

Two months ago, Aqua Power announced the signing of 3 power purchase agreements; By its venture companies with Uzbekistan’s national electrical grid for 3 solar PV plants with a total capacity of 1400 MW, with a total value of 2.5 billion dollars.