10 July 2023

ACWA Power plans to expand its presence in Uzbekistan

On July 10 of this year, the Minister of Investment, Industry and Trade of the Republic of Uzbekistan held talks between Minister Laziz Kudratov and Chairman of the Board of ACWA Power Muhammad Abunayan, the press service of MIIT reports. The parties discussed topical issues of the implementation of the company’s current portfolio of projects in our country and the prospects for expanding further investment cooperation in the energy and chemical industries.

During the meeting, the significant contribution of ACWA Power to the development of the energy sector of the republic was noted. Today, the company’s investment portfolio in our country includes 8 projects with a total value of over $6.8 billion and a design capacity of over 5.5 GW. It was emphasized that the success of the company plays an important role in promoting Uzbekistan as a comfortable investment destination and a leading center for the introduction of renewable energy sources in the Central Asian region.

A constructive exchange of views took place on topical issues of the implementation of ongoing projects for the construction of a combined-cycle power plant in the Syrdarya region with a capacity of 1.5 GW, wind power plants in the Bukhara region and the Republic of Karakalpakstan with a total capacity of 2.6 GW and solar stations in the Samarkand and Tashkent regions with a capacity of 1.4 GW . An agreement was reached on the adoption of a set of practical measures to ensure the accelerated commissioning of projects.

A number of new initiatives were considered separately. Thus, the parties welcomed the completion of the necessary procedures and the conclusion of new agreements on the project for the construction of a plant for the production of “green” hydrogen, with a capacity of 3 thousand tons per year. Construction work is scheduled to start this autumn.

In addition, the prospects for accelerating the localization project for the production of equipment for wind turbines were discussed. According to each of the parties, the implementation of this project in Uzbekistan will significantly expand the geography and volumes of the use of renewable energy sources and increase the availability of these technologies in the domestic market.

Following the talks, the parties agreed on the adoption of targeted measures as part of the timely and successful implementation of the discussed projects and initiatives.