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ACWA Power plans to expand its activities in Uzbekistan

2023-07-10 | Economics

On July 10 this year, the Ministry of Investment, Industry and Trade of the Republic of Uzbekistan hosted negotiations between Minister Laziz Kudratov and Mohammad Abunayyan, Chairman of the Board of ACWA Power. 

The parties discussed topical issues on implementation of the company’s current portfolio of projects in our country and prospects for expansion of further investment cooperation in energy and chemical industry.

During the meeting the significant contribution of ACWA Power to the development of the energy sector in the country was noted. Today the investment portfolio of the company in our country includes 8 projects with a total cost of over 6.8 billion USD and design capacity of more than 5.5 GW. It was emphasized that the success of the company plays an important role in promoting Uzbekistan as a comfortable investment destination and a leading center for introduction of renewable energy sources in the Central Asian region.

Constructive exchange of views was held on topical issues relating to implementation of current projects on construction of combined cycle power plant in Syrdarya region with capacity of 1.5 GW, wind power plants in Bukhara region and Republic of Karakalpakstan with total capacity of 2.6 GW and solar power plants in Samarkand and Tashkent regions with capacity of 1.4 GW. An agreement was reached to take a set of practical measures to ensure accelerated commissioning of the projects.

A number of new initiatives were considered separately. Thus, the parties welcomed the completion of necessary procedures and reaching new agreements on the project of construction of a plant for the production of "green" hydrogen, with a capacity of 3 thousand tons per year. The start of construction works is scheduled for the fall this year.

In addition, a discussion was held on the prospects for accelerating the project of localization of equipment production for wind turbines. Each of the parties stressed that the implementation of this project in Uzbekistan will significantly expand the geography and volume of renewable energy sources and increase the availability of these technologies in the domestic market.

Following the negotiations, the parties agreed to take targeted measures for the timely and successful implementation of the discussed projects and initiatives.

Source: Ministry of Investments, Industry and Trade of the Republic of Uzbekistan