In the presence of His Royal Highness Prince Abdulaziz bin Salman, Minister of Energy, and His Excellency Deputy Prime Minister and Minister of Investment and Foreign Trade of the Republic of Uzbekistan Sardar Omar Zaguf, ACWA Power – the leading Saudi company in the sector of developing, investing and operating power generation and water desalination plants, signed on to thirteen State – Agreement with the Ministries of Investment and Foreign Trade, and Energy of the Republic of Uzbekistan.
According to the company, “ACWA Power” will implement, develop, build and operate a wind power project with a production capacity of 1,500 megawatts in the Uzbek region of Karakalpakstan, making the plant – when operational – the largest of its kind in Central Asia, and one of the largest wind power plants in the world.
The agreement was signed on behalf of ACWA Power, the Executive General Manager of the Business Development Department at ACWA Power, Iyad Al-Omari, and on the Uzbek side, Deputy Energy Minister Sherzod Khujayev, Deputy Minister of Investment and Foreign Trade and Shukrat Vavayev.
The signing of the agreement was attended by the Chairman of the Board of Directors of “ACWA Power” Muhammad Abu Nayyan, the Head of the General Department for Investments in Local Companies at the Public Investment Fund, Yazid Al-Hamid, and a number of officials from the Saudi and Uzbek sides.
As a national Saudi company, ACWA Power’s assumption of the task of implementing, developing, building and operating a plant that is the largest of its kind in Central Asia reflects the Kingdom’s leadership in the energy field in general, and its ability to develop the technical and human capabilities of Saudi companies in the field of renewable energy in particular.
The project aims to strengthen the Uzbek government’s efforts to diversify the energy mix in the Republic of Uzbekistan and increase its ability to produce renewable energy, in line with the strategic reforms that the country is witnessing recently, and the announcement of this new agreement follows the signing of energy purchase agreements and other investment agreements for the two wind energy projects. In Bukhara and Navoi earlier this year, with a total production capacity of 1,000 MW
ACWA Power is also working on the construction of a highly efficient gas-fired power plant to produce 1,500 MW in the Syrdaria region.
His Excellency the Minister of Investment and Foreign Trade of the Republic of Uzbekistan, Sardar Umar Zakov, said: “Our partnership with ACWA Power is appreciated and welcomed and we are happy with this expansion, which includes the largest facility of its kind in the Central Asia region once it starts operating, and this project will contribute to strengthening the efforts aimed at To achieve our national renewable energy goals of raising the total renewable energy generation capacity to 25 by 2030. ‘
In his turn, the Uzbek Minister of Energy Alisher Sultanov said: “As an energy producing country, we in Uzbekistan learn a lot from our partners in the Middle East, especially our partners from the Kingdom of Saudi Arabia, in our endeavor to transform to a low-carbon economy, and the project that will be undertaken by the company will contribute.” ACWA Power is a major contribution to our plan to generate 25% of electricity from renewable energy sources by 2030 AD.
For his part, Chairman of the Board of Directors of “ACWA Power” Muhammad Abunyan expressed his happiness at the signing of the agreement with the Ministries of Investment, Foreign Trade and Energy of Uzbekistan in the Kingdom, stating that the agreement allows the implementation of the wind power plant that will be established in the Karakalpakstan region to produce 1500 megawatts, which will further expand the scope of Our international cooperation and ongoing partnership with the Uzbek government aims to accelerate the transformation of the energy sector in Uzbekistan.
This project is a new addition to our record of achievement in Uzbekistan, and establishes ACWA Power’s commitment to high-growth markets, including the Uzbek market, to enable it to achieve its ambitious goals in the field of renewable energy and sustainability.
The project is expected to meet the energy needs of nearly 4 million housing units, and reduce about 2.5 million tons of carbon dioxide emissions annually, which directly contributes to the government’s goals aiming to generate 30% of Uzbekistan’s energy needs from renewable sources by 2030, In addition to keeping pace with the increasing annual growth of electricity demand efficiently and in a sustainable way.