The company will be partnering with the government of Uzbekistan to develop 1.5 gigawatts (GW) wind farm. It is valued at around $2.4b and is expected to be fully commissioned by the first quarter of 2026.
“This partnership will be a major contribution to Uzbekistan's achievements in developing and modernising the energy sector, and specifically our dedication to green energy,” Azim Akhmedkhojaev, First Deputy Minister of Energy of the Republic of Uzbekistan, said.
“The joint projects will also give us access to the most modern technologies.”
ACWA Power also entered into an investment Cooperation Agreement to jointly develop gas-to-power, renewable energy, and green hydrogen projects in the country.
Moreover, the company will be charting a roadmap for investment of green hydrogen in Uzbekistan, in partnership with Air Products.
“With the signing of these key agreements with Uzbekistan’s Ministry of Investments & Foreign Trade and Ministry of Energy, Uzbekistan will become the second largest country for ACWA Power in terms of overall investment and we are proud to play a vital role in supporting the nation’s decarbonisation efforts, stemming from the strong international cooperation between Saudi Arabia and Uzbekistan under their visionary leadership,” Mohammad Abunayyan, ACWA Power Chairman, said.