BAKU, Azerbaijan, May 17. The Saudi Arabia's ACWA Power will develop green hydrogen project in Uzbekistan, Trend reports via the Ministry of Investments and Foreign Trade of Uzbekistan.
The relevant agreement was signed between the Ministry of Investment, Industry and Trade and ACWA Power company. The total cost of the project is $88 million.
Earlier this year, during the second Tashkent International Investment Forum (ТIIF-2023), Chairman of the Board of Directors of ACWA Power Mohammad Abdullah Abunayyan outlined the plan of the company to implement the project of such kind in Uzbekistan.
Yesterday, ACWA Power, jointly with the EBRD, inked another agreement for the construction of a wind power plant in Nukus, Uzbekistan.
The credit agreement outlines that the bank will provide a loan of $19 million to ACWA Power Wind Karatau, facilitating the construction of a 100 MW wind power plant in Karakalpakstan's Nukus.
The portfolio of projects of ACWA Power (Saudi Arabia) in Uzbekistan is $7.5 billion.