- New developments on three major power projects with a combined investment value of $2.5 billion and capacity of 2500MW
- Official ground-breaking ceremony held for 1500MW CCGT power plant at the Sirdarya site
- Two Power Purchase Agreements (PPA) and Investment Agreements signed for two wind power plants in Bukhara and Navoi, with aggregate power generation capacity of 1000MW
- The Uzbekistan Ministry of Energy, ACWA Power and Air Products have entered into a strategic framework agreement to enable research programs in the fields of renewable energy and hydrogen
- Senior Government Officials and Representatives from Uzbekistan, Saudi Arabia and ACWA Power attended Tashkent & Sirdarya ceremonies
Following agreements signed in March 2020, cooperation between the Uzbekistan Ministry of Energy, the Ministry of Investments and Foreign Trade, and ACWA Power has led to three major milestones in the development of power projects to enable Uzbekistan’s ambitious energy transformation plan and increase energy capacity by 2500MW.
The ground-breaking ceremony of the 1500MW Sirdarya CCGT plant, followed by the signing of two Power Purchase Agreements and Investment Agreements for two wind power plants located in Bukhara and Navoi, was conducted in the presence of Deputy Prime Minister and Minister of Investments and Foreign Trade of the Republic of Uzbekistan, H.E. Sardor Umurzakov, and H.E. Alisher Sultanov, Energy Minister of the Republic of Uzbekistan, as well as a Saudi Arabian delegation led by H.E. Eng Khalid Al-Falih, Minister of Investment for Saudi Arabia and H.E. Hisham Mishal Al- Suwailem, the Saudi Ambassador to Uzbekistan. Other attendees included senior representatives from the Uzbekistan Ministry of Energy, Ministry of Investments and Foreign Trade, ACWA Power and Air Products.
ACWA Power will be delivering these three projects utilising its technical knowledge, expertise, and experience, to contribute directly to meeting Uzbekistan’s growing yearly electricity demand, which is expected to reach 110 billion kWh by 2030. The company’s contribution is also aligned with Uzbekistan’s national mandate to increase energy efficiency, introduce energy-saving technologies, and develop and implement renewable energy sources, under its recent energy sector reforms.
“ACWA Power is a true Saudi success story and a cornerstone of the Kingdom’s burgeoning private sector. This growth is being supported by various business-friendly reforms introduced by the Ministry of Investments and Foreign Trade. I am confident that this partnership signals the start of further collaborations in the trade and investment space for both of our nations.”
His Excellency also praised the prominent role the Ministry of Energy in the Kingdom of Saudi Arabia played to facilitate the agreements signed, encouraging Uzbekistan to benefit from the expertise of the Saudi Ministry of Energy in the field of energy – particularly clean and renewable energy.
ACWA Power is also committed to training and upskilling 1000 local employees in Uzbekistan during the project’s construction and operation phases, generating long-term, socio-economic value through knowledge sharing and job creation.
“Through the addition of new renewable energy capacity, exploration of innovative technologies and the advancement of cleaner, more efficient and cost-competitive gas power, ACWA Power is expanding its presence in Uzbekistan, a high growth market, leveraging our global expertise and technical know-how to create long-term and sustainable value for the country’s local communities.”