On July 10, Saudi company ACWA Power discussed the progress of its investment projects in Uzbekistan, as announced by the Ministry of Investment and Foreign Trade (MIPT). Laziz Kudratov, the Minister of MIPT, held a meeting with Muhammad Abunayyan, the Chairman of the Board of ACWA Power, in Tashkent. The key topics of the meeting included the implementation of ongoing projects and prospects for expanding cooperation in the energy and chemical sectors.
Entering a new phase after completing the necessary procedures, the project for the construction of a "green" hydrogen plant, in which ACWA plans to invest $88 mn, was discussed. The construction is scheduled to begin in autumn 2023.
The parties also discussed opportunities to accelerate the localization of equipment production for wind turbines. It was noted that this initiative would expand the geographical and volume utilisation of renewable energy and increase its accessibility in the market.
Furthermore, Kudratov and Abunayyan touched upon ACWA's energy project portfolio worth $6.8 bn. The total capacity of the eight power plants being constructed under ACWA's participation exceeds 5.5 GW, including:
- A 1.5 GW combined cycle power plant in the Sirdaryo region.
- Multiple wind parks in the Bukhara region and Karakalpakstan with a combined capacity of 2.6 GW.
- Solar farms near Tashkent and Samarkand with a capacity of 1.4 GW, equipped with energy storage systems.
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