ACWA Power to include 1.4 GW of solar, 1.2 GW of storage space in Uzbekistan

• ACWA Power (TADAWUL:2082) has actually signed deals to build two solar parks with a combined capacity of 1.4 GW as well as include battery storage space of 1.2 GW in Uzbekistan, the country's Energy Ministry claimed over the weekend break.

Carefully, the plan envisages the building and construction of a 400-MW solar plant and also a 400-MW energy storage system in the Tashkent region, a 1,000-MW solar park and a 400-MW energy storage space facility in the Samarkand region, in addition to 400 MW of energy storage space in the Bukhara region. The projects likewise consist of the building and construction of power transmission networks.

The Saudi company has actually signed financial investment agreements with the Ministry of Investments, Industry and also Trade of Uzbekistan in addition to offtake take care of National Electric Grid of Uzbekistan for the projects.

During the occasion, the construction of a 400-MW solar park was released in Tashkent district. When up and running, the center is expected to produce 900 million kWh of electrical power yearly, replacing 257 million cubic metres of natural gas.

The most up to date investment bargains comply with the signing of collaboration between ACWA Power as well as Uzbekistan's Ministry of Energy in August 2022 under which the Riyadh-based firm intends to spend USD 10 billion (EUR 9.43 bn) in the Central Asian nation within five years.

ACWA Power's large-scale strategies support Uzbekistan's goal to elevate the share of renewables in the electrical power mix to 35% by 2030.