ACWA Power to conclude agreements on energy projects in Uzbekistan worth $3 bln in 2027

TASHKENT. Oct 19 (Interfax) - Saudi Arabia's ACWA Power plans to conclude agreements on new energy projects in Uzbekistan worth a total of $3 billion in 2027, the company's board chairman Mohammad Abunayyan said.

"We signed an agreement on a new project in Karakalpakstan providing for round-the-clock electricity supply with a capacity of 1 GW. Its cost is about $2 billion. We have planned agreements for another $3 billion for next year," Abunayyan said in an interview with the TV channel Uzbekistan 24, published by the country's Energy Ministry following a meeting between Uzbek President Shavkat Mirziyoyev and investors in the fuel and energy sector.

The implementation of these projects will contribute to the introduction of advanced technologies, the development of local production and the attraction of young people to work in the energy sector, Abunayyan said.

The policy pursued by President Mirziyoyev aimed at supporting and developing the energy sector was an important factor for ACWA Power in deciding to cooperate with Uzbekistan, he said.

ACWA Power has been operating in Uzbekistan since 2019 and implements projects in the field of conventional and renewable energy. In particular, the company commissioned a 1.5 GW combined-cycle gas turbine power plant in the Syrdarya region, as well as the Bash and Jankeldy wind power plants in the Bukhara region with a total capacity of 1 GW. In addition, ACWA Power is implementing solar and wind energy projects and energy storage systems worth a total of $4.2 billion together with Japan's Sumitomo Corporation.