ACWA Power's $15 Billion Investment in Green Energy Projects in Uzbekistan
Key Ideas
- ACWA Power, a Saudi Arabian energy company, is investing $15 billion in green energy initiatives in Uzbekistan, with a focus on wind and solar power as well as green hydrogen production.
- The company plans to have all 15 projects fully operational by 2030, with two projects already generating electricity and six under construction for launch by 2025.
- Key projects include a 1,500-megawatt steam-gas power plant in the Syrdarya region and the green hydrogen project aimed at producing 3,000 tons of hydrogen, mineral fertilizer processing, and a wind power station.
- Uzbekistan ranks as ACWA Power's second-largest investment market, with 15 ongoing projects contributing to the country's energy transition and sustainable development goals.
ACWA Power, a prominent Saudi Arabian energy company, has announced a substantial investment of approximately $15 billion in green energy projects in Uzbekistan. The revelation was disclosed by Anthony Brinkhuizen, the company's Vice President for Central Asia, during the International Partnership Initiatives Week in Tashkent. ACWA Power's commitment to developing large-scale projects focusing on harnessing electricity from wind, solar power, and green hydrogen was emphasized. The investment is distributed across 15 distinct projects, with 87% allocated to wind energy and the remaining supporting green hydrogen production. Notably, Uzbekistan follows Saudi Arabia as the recipient of the largest share of ACWA Power's investments. Currently, two projects are operational, six are under construction for launch by 2025, and the aim is to have all 15 projects operational by 2030. Key projects include a 1,500-megawatt steam-gas power plant in the Syrdarya region and a green hydrogen initiative set to produce 3,000 tons of hydrogen, mineral fertilizer processing, and a 52-megawatt wind power station. These projects align with President Shavkat Mirziyoyev's vision for Uzbekistan's energy transition and sustainable development. Uzbekistan stands as ACWA Power's second-largest investment market, with 15 ongoing projects contributing significantly to the country's energy goals.