Uzbekistan and ACWA Power achieve momentous milestones
The Uzbekistan Ministry of Energy, ACWA Power and Air Products have entered into a strategic framework agreement on renewable energy.
Image source: ACWA Power
Tashkent, Uzbekistan: The Uzbekistan Ministry of Energy, ACWA Power and Air Products have entered into a strategic framework agreement on renewable energy.
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 2500 MW.
The ground-breaking ceremony of the 1500 MW Sirdarya CCGT plant, followed by the signing of two power purchase agreements and investment agreements for two wind power plants was conducted in the presence of senior government officials and 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 B 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.
“These visionary projects mark the start of a new chapter in the investment relationship between Saudi Arabia and Uzbekistan. As the Minister of Investment for Saudi Arabia, it is particularly pleasing to see a homegrown Saudi company such as ACWA Power supporting Uzbekistan to deliver such a vital component of its infrastructure investment program, which is central to the country’s economic transformation. The Ministry of Investment for Saudi Arabia is proud to have played a leading role in facilitating this momentous agreement”, said H.E. Eng Khalid Al-Falih.
Source: ACWA Power