Uzbekistan is rapidly emerging as a leader in the green energy sector, driven by substantial investments from global entities like ACWA Power. In an exclusive interview with Marco Arcelli, CEO of ACWA Power, we delve into the company's extensive investment portfolio, the significance of UN Secretary-General Antonio Guterres' recent visit, and the broader implications for Uzbekistan's energy future.
UN' Visit Highlights Green Commitment
The recent visit by UN Secretary-General Antonio Guterres to Uzbekistan underscores the international recognition of the country's efforts in transitioning to sustainable energy. Marco Arcelli remarked, "The government was keen to showcase their efforts in energy transition and decarbonization." Guterres' tour of the Riverside PV plant, one of Uzbekistan's largest solar installations, highlighted the project's critical role in the nation's green agenda. "The Riverside plant, with its significant battery storage capabilities, is a testament to Uzbekistan's commitment to green energy," Arcelli added.
ACWA Power's Strategic Investment Portfolio
ACWA Power has positioned itself as a pivotal player in Uzbekistan's energy sector. The company's portfolio includes 3,000 megawatts of operational and under-construction projects, with ambitious plans to reach over 11,000 megawatts by 2030. Arcelli explained, "Our diverse mix of technologies, including solar plants, wind farms, battery storage, and high-efficiency combined cycle gas plants, is designed to meet Uzbekistan's energy demands year-round, ensuring stability and efficiency."
This strategic diversification is not only about meeting immediate energy needs but also about positioning Uzbekistan as a regional leader in renewable energy.
"By 2030, we aim to complete more than 11,000 megawatts, a move that will significantly enhance the country's energy security and sustainability," Arcelli stated.
Impact on Decarbonization and Economic Growth
The Riverside solar plant and other ACWA Power projects are crucial for Uzbekistan's decarbonization goals. "Our projects are part of Uzbekistan's plan to rejuvenate the energy system and save up to 50% of the gas currently used," Arcelli noted. This transition is expected to substantially reduce emissions and decrease reliance on fossil fuels, contributing to a cleaner environment and a more sustainable energy future.
Arcelli emphasized the dual benefits of sustainability and cost-effectiveness. "Solar and wind energy are not only good for the climate but are also the most inexpensive and fastest to install," he said. This economic advantage is crucial for attracting further investments, particularly from regions like Saudi Arabia, thereby bolstering Uzbekistan's economic growth and energy independence.
Future Projects and Long-term Vision
Looking ahead, ACWA Power's future projects in Uzbekistan are set to further enhance the country's green energy landscape. "We are developing a green hydrogen plant that will produce green products like fertilizers, positioning Uzbekistan as a leading exporter to Europe," Arcelli revealed. This initiative aligns with global trends and Europe's carbon border adjustment mechanism, offering Uzbekistan a competitive edge in the green energy market.
Arcelli also highlighted the importance of upgrading the outdated grid infrastructure to accommodate new projects. "We are working closely with the government to ensure the grid can absorb locally produced energy, supported by new distribution and transmission lines and substantial battery storage investments," he explained.
Capacity Building and Socioeconomic Impact
Beyond energy production, ACWA Power's investments are creating significant job opportunities and fostering local talent. The company sponsors the Shearing College, training young Uzbeks, including a notable percentage of women, for future roles in the energy sector. "We are proud to be developing the next generation of energy professionals," Arcelli said. This focus on capacity building ensures that the benefits of these investments extend beyond immediate economic gains to long-term socio-economic development.
Nuclear Energy: A Complementary Solution
Given his extensive experience in the energy sector, Arcelli sees nuclear energy as a vital component of a balanced energy strategy. “In my career, I have managed every single type of energy, including nuclear power plants,” he shared. Uzbekistan has signed deals with Rosatom for building nuclear power plants, which Arcelli believes can complement renewable energy sources. “Nuclear is part of the solution, especially for baseload energy requirements. It’s expensive to build but provides a stable and reliable energy source,” he noted. This approach aligns with the broader goal of achieving a diverse and resilient energy mix.
Uzbekistan's green energy transition is gaining international attention, driven by substantial investments from ACWA Power and the strategic support of global leaders like Antonio Guterres. With a robust investment portfolio and a focus on sustainability, Uzbekistan is poised to become a leader in the green energy sector, attracting further investments and enhancing its economic and environmental standing on the world stage.
As Arcelli aptly summarized, "Uzbekistan's commitment to green energy is not only transforming its energy landscape but also positioning it as a benchmark for rapid and constructive energy transitions globally."
Watch the full interview here:
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