Saudi Arabia energy supplier ACWA Power signed an agreement to develop 1.4GW solar photovoltaic and 1.2GW energy storage projects in Uzbekistan, which will provide funds from the country's investment, industry and trade department.
The agreement involves two solar projects -1GW projects in Samarkand regions, 400MW power stations in TASHKENT area, and three 400MW energy storage projects. Investment will sign a project power purchase agreement from the Uzbekistan government, ACWA, and the country's power grid operator JSC UZBEK National Electricity Grids.
These investment agreements were part of the $ 10 billion plan signed by the Ministry of Energy of Uzbekistan and the Ministry of Investment, Industry and Trade last year with the ACWA POWER. These new projects are worth about $ 2.5 billion.
As part of the announcement, the government has clarified that renewable energy power generation accounted for 35%of its total power generation by 2030. To this end, Ukraine plans to deploy 10GW solar energy and 5GW wind energy.
In December last year, Uzbekistan confirmed that it won the 500MW solar project in the recent round of renewable energy bidding. A report in September 2022 focuses on that after the Russian and Ukraine War, Eastern Europe, Caucasus and Central Asia need to be quickly deployed renewable energy.
