The agreement was signed on the sidelines of the Tashkent International Investment Forum held under the patronage of Uzbek President Shavkat Mirziyoyev.
It was signed in the presence of Uzbek Prime Minister Abdulla Aripov and Saudi Energy Minister Prince Abdulaziz bin Salman Al Saud during a ceremony inaugurating two of ACWA Power’s ongoing projects in the country: the 1.5GW Sirdarya CCGT plant and the first 100MW phase of the Riverside solar plant in the Tashkent region.
Mirziyoyev also attended the ceremony.
As ACWA Power’s 15th project in Uzbekistan, Aral Wind IPP solidifies the company’s strong commitment to providing the renewable energy needed to meet the Central Asian country’s ambitious aims to have 40% of its energy mix provided by renewables by 2030.
Uzbekistan is ACWA Power’s largest market after its home country of Saudi Arabia, and this latest project brings its total investment in the country to $13.9 billion.
Founder and Chairman of the Board of ACWA Power Mohammad Abunayyan said: “This historic project will provide clean power to approximately 4.5 million houses in Uzbekistan, a country which is propelling its energy transition thanks to its ambitious and decisive leadership.”
“We are proud to collaborate with Uzbekistan’s government to export our low-carbon expertise beyond the borders of Saudi Arabia, improving the lives of millions in a country with whom we are honored to share close ties,” he added.
The Aral Wind IPP will be deployed in five phases. This flagship initiative will generate approximately 18,500 GWh of clean electricity annually, displacing 247 billion tons of CO2 over its lifetime and providing power to around four million homes, thus marking a pivotal step in Uzbekistan’s green energy transition.
It is projected to create hundreds of direct and indirect jobs and stimulate local industry by localizing services and supplies.
ACWA Power is the world’s largest private water desalination company and a leader in energy transition and first mover into green hydrogen.
Its total portfolio in Uzbekistan now comprises 11.6GW of power, of which 10.1GW is renewable, as well as the country’s first green hydrogen project with a capacity of 3,000 tons per year, the first phase of which was inaugurated in November 2023.
