During the Tashkent International Investment Forum, supported by President Shavkat Mirziyoyev of Uzbekistan, ACWA Power, a prominent Saudi-listed company specializing in water desalination and energy transition, inked a Power Purchase Agreement (PPA) with Uzbekistan's National Electric Grid. This agreement pertains to the Aral 5GW Wind Independent Power Producer (IPP) project, set to become Central Asia's largest wind farm, situated in the Karakalpakstan region.
The agreement was signed in the presence of His Excellency the Uzbek Prime Minister Mr. Abdulla Aripov and HRH Prince Abdulaziz bin Salman Al Saud, Minister of Energy of the Kingdom of Saudi Arabia, 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. The ceremony was attended by His Excellency Shavkat Miramonovich Mirziyoyev, President of the Republic of Uzbekistan, and His Royal Highness Abdulaziz bin Salman Al Saud, the Minister of Energy of the Kingdom of Saudi Arabia.
The Aral Wind IPP marks ACWA Power's 15th venture in Uzbekistan, reinforcing the company's dedicated efforts to supply renewable energy to support the nation's ambitious goal of having 40% of its energy sourced from renewables by 2030. Following Saudi Arabia, Uzbekistan stands as ACWA Power's most significant market, and this recent undertaking elevates its total investment in the country to $13.9 billion.
Mr. Mohammad Abunayyan, Founder and Chairman of the Board of ACWA Power, 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 honoured to share close ties”.
The Aral Wind IPP will unfold in five phases, serving as a flagship initiative expected to produce approximately 18,500 GWh of clean electricity annually. This substantial output will displace 247 billion tonnes of CO2 throughout its lifespan and cater to around four million households, marking a significant milestone in Uzbekistan's transition to green energy. Moreover, the project is anticipated to generate hundreds of direct and indirect employment opportunities while stimulating local industries through service and supply localization. ACWA Power's overall portfolio in Uzbekistan now encompasses 11.6GW of power, with 10.1GW sourced from renewable sources. Additionally, the company initiated Uzbekistan's first green hydrogen project with a capacity of 3,000 tonnes per year, commencing its first phase in November 2023.