Saudi Acwa Power is ready to increase investment cooperation with Uzbekistan

On March 3 of this year, negotiations between the Minister of Investments, Industry and Trade of the Republic of Uzbekistan Laziz Kudratov with the chairman of the board of ACWA Power, Muhammad Abunayan, were held in Tashkent, during which the current issues of the current portfolio of the company’s projects in Uzbekistan and the prospects for expanding further investment cooperation in Uzbekistan areas of interest to both parties. This was reported by the press service of MIIT.

The significant contribution of ACWA Power to the development of the energy sector of our country was noted. Today, the company’s investment portfolio in Uzbekistan includes 5 projects with a total value of more than $ 4.4 billion and design capacity of more than 4.1 GW. It was emphasized that the success of the company in our country plays an important role in promoting Uzbekistan as a comfortable direction for investment and the leading center for the introduction of renewable energy sources in the Central Asian region.

The meeting discussed topical issues of the implementation of current projects for the construction of windbreaking power plants in the Syrdarya, Bukhara regions and the Republic of Karakalpakstan with a total capacity of 2.6 GW. An agreement has been achieved to take a set of practical measures to accelerate work in order to enter the leading deadlines for putting projects into operation.

A number of new projects planned for joint implementation are considered. In this context, the parties welcomed the completion of the necessary procedures and access to new agreements on the construction of a solar power plant with a capacity of 500 MW in the Samarkand region and a solar power station with a capacity of 200 MW in the Tashkent region.

In a separate manner, plans for the construction of a plant specializing in the production of “green” hydrogen in Uzbekistan were discussed.

The parties also exchanged views on the agenda of the current investment interaction in the chemical industry, the banking sector, telecommunications, healthcare, the production of pharmaceuticals and agriculture.

According to the results of the negotiations, the parties agreed on the adoption of targeted measures in the framework of timely and successful implementation of the discussed projects and initiatives.