ACWA Power and the Ministry of Energy in Uzbekistan signed a 25-year Power Purchase Agreement (PPA) with a total investment value of US$1.2 billion for the development/construction/operation of a 1500 MW Combined Cycle Gas-Turbine (CCGT) power plant. JSC National Electric Grids of Uzbekistan acts as the sole off-taker. The project will be located in Shirin City in the Sirdarya region and will be developed as a ‘Build, Own, Operate, Transfer’ project. ACWA Power will take the lead in constructing, engineering, operating and maintaining the plant. The CCGT plant’s efficiency rate will be in excess of 60% - saving almost twice the natural gas currently used for electricity production.