Saudi company ACWA Power expands investment presence in Uzbekistan

On March 4 this year, the ceremony of starting work on the construction of a solar power plant with a capacity of 400 MW in the Tashkent region was held in Tashkent, the press service of the MIIT reported. In accordance with the agreements reached, the Saudi company ACWA Power will carry out the design, financing, construction and further operation of the power plant for 25 years.

As part of the event, Investment Agreements were also signed between the Ministry of Investments, Industry and Trade and ACWA Power for the construction of solar power plants with a total capacity of 1000 MW in the Samarkand region, 400 MW in the Tashkent region and an autonomous electricity storage battery with a capacity of 1,200 MW.

Speaking with a welcoming speech, the Minister of Investments, Industry and Trade of the Republic of Uzbekistan Laziz Kudratov sincerely congratulated all those present on the launch of a large-scale project that reflects the positive dynamics of development and strengthening of the multifaceted cooperation between Uzbekistan and Saudi Arabia.

A number of economic benefits were noted that will be achieved as a result of the implementation of projects, namely: the creation of more than 3,000 new jobs during construction and 300 during operation; electricity generation in the amount of 3.5 billion kWh per year; natural gas savings in the amount of 1 billion cubic meters. m per year.

For reference: ACWA Power specializes in the construction, design, financing and operation of power plants, as well as water desalination facilities. The staff consists of about 3500 people. The company’s international presence covers more than 12 countries in the Middle East, Africa, Central and Southeast Asia. ACWA Power’s portfolio includes over 38.7 GW of generating capacity.