The project agreement was signed between Saudi energy provider ACWA Power and Uzbekistan’s joint-stock company National Electric Grid of Uzbekistan (NEGU) and the Ministry of Investment, Industry and Trade.
Last March, ACWA Power announced that it had signed agreements to develop 1.4GW of solar PV and 1.2GW of energy storage projects in Uzbekistan to be financed by the country’s Ministry of Investment, Industry and Trade.
The agreements were for two solar projects – a 1GW facility in the Samarkand region and a 400MW plant in the Tashkent region – and three 400MW storage projects. The investment came from the Uzbekistani government, and ACWA signed power purchase agreements (PPA) for the projects with NEGU.
The investment agreements formed part of a US$10 billion plan signed last year between ACWA Power and the Uzbekistan Ministry of Energy and Ministry of Investment, Industry and Trade to finance projects through 2027. These new projects will constitute around US$2.5 billion.
Uzbekistan has been planning upgrades and expansion throughout its electric power system, including generation and transmission. PV Tech Premium published an article before detailing solar development in Uzbekistan and the challenges in the wider Central Asia region.
