BAKU, Azerbaijan, March 6. Uzbekistan’s Ministry of Investment, Industry, and Foreign Trade and Saudi Arabia's ACWA Power signed an agreement on the implementation of the projects in the field of renewable energy, Trend reports with reference to the Uzbek Ministry of Investment, Industry, and Foreign Trade.
The agreement was signed between Uzbekistan’s Minister of Investment, Industry, and Foreign Trade Laziz Kudratov, and Chairman of the Board of ACWA Power Mohammed Abdullah Rashid Abunayan, during the working trip of the Saudi company to Uzbekistan.
According to the newly signed document, ACWA Power will finance the construction of solar power plants with a total capacity of 1,000 MW in the Samarkand region, 400 MW in the Tashkent region, as well as the installation of an autonomous battery for storing electricity with a capacity of 1,200 MW.
Earlier in January, the Ministry of Energy of Uzbekistan and Uzkimyosanoat, a state-owned chemical company signed an agreement with ACWA Power on setting up a green hydrogen complex and implementing a pilot project for green ammonia production in Uzbekistan.
Moreover, ACWA Power's investment portfolio in Uzbekistan’s energy sector amounted to over $4.4 billion. The company finances the construction of a wind power plant with a total capacity of 1500 MW in Karakalpakstan. The large-scale wind power plant is planned to be commissioned in 2026, producing 5.2 billion kWh of electricity per annum saving 1.5 billion cubic meters of natural gas.
In addition, with the company's participation, wind farms are being built in the Bukhara and Navoi regions, as well as a small 100 MW wind farm in Karakalpakstan.