Why is this important
ACWA Power projects are capable of increasing renewable energy generation, strengthening the country’s energy security, and attracting large foreign investments to the green economy.
What is going on
- The company intends to increase the installed capacity of the projects from 3.5-4 GW to 10 GW.
- One of the key plans is the construction of a 1.5 GW wind farm in the Kungrad district.
- In June, ACWA announced the signing of a $5 billion agreement with the government for new projects.
- Currently, the development portfolio includes 19 energy projects, 18 of which are related to renewable energy.
- Wind power plants are already being built in Karakalpakstan (1.5 GW and 100 MW), wind farms in the Bukhara region (500 MW each), and photovoltaic power plants in the Tashkent and Samarkand regions.
- Plans also include a green hydrogen plant in Chirchik (in partnership with Power China), and a battery system in the Tashkent region (334 MW).
- The total volume of ACWA’s investments in Uzbekistan has already reached $15 billion.
Context
ACWA Power is a major player in the energy sector in the Middle East and Asia, specializing in renewable sources, water purification, and energy storage. Uzbekistan is actively developing the “clean energy” sector as part of its sustainable development strategy. These initiatives will contribute to reducing dependence on fossil fuels and developing the export potential of electricity.
