ACWA Power expands its presence in Uzbekistan

On November 15 this year, the Deputy Prime Minister – Minister of Investments and Foreign Trade of the Republic of Uzbekistan Jamshid Khodjaev met with the Chairman of the Board of the Saudi company ACWA Power Muhammad Abunayan, dedicated to discussing issues of accelerating the implementation of current joint projects and further expanding investment cooperation in the development of renewable energy sources.

In particular, the parties studied the process of implementing the project for the construction of a combined cycle thermal power plant with a capacity of 1,500 MW on the basis of the Syrdarya thermal power plant, as well as the preparations for the construction of two wind power plants with a capacity of 500 MW each in the Bukhara region. An agreement was reached to take concrete practical measures to accelerate the implementation of the planned measures and to put all projects into operation as soon as possible.

The prospects for expanding investment cooperation, namely the implementation by the company of new large-scale investment projects in Uzbekistan, were considered. In this context, an exchange of views took place on the possibility of developing new investment projects for the construction of wind farms with a capacity of up to 1.5 GW in the Republic of Karakalpakstan.

It was noted that these projects are part of the program of the Government of Uzbekistan to diversify the country’s energy balance, aimed at bringing the volume of electricity generated by wind farms to 3 GW by 2030. These projects are also expected to reduce carbon emissions by 1.6 million tons per year, thereby contributing to the goal of converting 40% of the country’s energy capacity to renewable energy sources by 2031.

Following the talks, mutual commitment was expressed to provide comprehensive assistance to the accelerated implementation of joint projects and the development of new agreements and initiatives.