Acwa, KOWEPO to explore renewable energy cooperation in Uzbekistan

TASHKENT. Aug 25 (Interfax) - Saudi Arabia's Acwa and Korea Western Power Co., Ltd. (KOWEPO) signed a memorandum to explore potential opportunities in Uzbekistan's renewable energy market in Tashkent on Tuesday, Acwa said in a press release.

The memorandum, signed by President of Acwa Central Asia Abid Malik and KOWEPO CEO Lee Jung-bok, establishes a framework for the parties to evaluate potential cooperation opportunities in renewable energy, energy storage and related infrastructure projects.

The parties will explore potential opportunities on a project-by-project basis, subject to further evaluation, internal approvals and definitive agreements, while leveraging their respective business development experience and local capabilities. The parties will working together to facilitate engagement with Korean financial institutions and support the continued development of Uzbekistan's energy transition.

Acwa said that as alternative energy capacity and energy storage systems expand in Uzbekistan, along with private sector participation, such partnerships can contribute to the development of a more diversified, sustainable and investment-oriented energy system.

Uzbekistan is Acwa's second-largest market by investment volume after Saudi Arabia. The company has been operating in the country since 2019, implementing projects in wind and solar power, energy storage, conventional generation and green hydrogen.

ACWA Power rebranded in January 2026 and officially changed its trade name to Acwa.