Saudi ACWA Power is ready to increase investment cooperation with Uzbekistan
On March 3 this year in Tashkent, Minister of Investment, Industry and Trade of the Republic of Uzbekistan Laziz Kudratov held talks with Chairman of the Board of ACWA Power Mohammad Abunayyan, during which topical issues of the implementation of the company's current portfolio of projects in Uzbekistan and prospects for expanding further investment cooperation in areas of mutual interest were discussed.
The significant contribution of ACWA Power to the development of the energy sector in our country was noted. Today, the company's investment portfolio in Uzbekistan includes 5 projects with a total value of over 4.4 billion USD and a design capacity of more than 4.1 GW. It was emphasized that the company's success in our country plays an important role in promoting Uzbekistan as a comfortable investment destination and a leading center for the introduction of renewable energy sources in the Central Asian region.
The meeting focused on the discussion of topical issues of the implementation of current projects for the construction of wind farms in the Syrdarya, Bukhara regions and the Republic of Karakalpakstan with a total capacity of 2.6 GW. An agreement was reached to take a set of practical measures to accelerate work in order to reach the deadlines for putting projects into operation ahead of schedule.
A number of new projects planned for joint implementation were considered. In this context, the parties welcomed the completion of the necessary procedures and the entry into new agreements on the construction of a 500 MW solar power plant in the Samarkand region and a 200 MW solar power plant in the Tashkent region.
Plans for the construction of a plant specializing in the production of "green" hydrogen in Uzbekistan were discussed separately.
The parties also exchanged views on the agenda of current investment cooperation in the chemical industry, banking, telecommunications, healthcare, pharmaceutical production and agriculture.
Following the negotiations, the parties agreed to take targeted measures within the framework of timely and successful implementation of the discussed projects and initiatives.