ACWA Power has signed an Implementation Agreement (IA) with the Ministry of Energy (MoE) of Uzbekistan to develop up to 2GWh of standalone Battery Energy Systems capacity (BESS) across the country,
The agreement was witnessed by President Shavkat Mirziyoyev of the Republic of Uzbekistan, President Ilham Aliyev of the Republic of Azerbaijan, and HRH Prince Abdulaziz bin Salman Al Saud, Minister of Energy of Saudi Arabia.
The announcement came soon after Saudi Arabia signed an implementation programme to strengthen cooperation in the field of renewable energy with Azerbaijan, Kazakhstan and Uzbekistan.
The agreement was formally signed during COP29, with both parties reaffirming their commitment to advancing renewable energy technologies and reducing carbon emissions. The IA follows a Memorandum of Understanding (MoU) signed between ACWA Power and Uzbekistan’s Ministry of Energy during the Tashkent Investment Forum in May 2024.
Under the agreement, ACWA Power receives contractual priority for 2GWh of new BESS capacity in Uzbekistan, allowing the company to offer competitive tariffs. The agreement is valid for two years and may be extended by mutual consent. Both parties will collaborate on feasibility studies to identify optimal locations for BESS projects.
“This agreement marks a key milestone in the evolution of our ongoing partnership with Uzbekistan”, said Raad Al-Saady, Vice Chairman and Managing Director of ACWA Power. “Crucially, as the largest investor in Uzbekistan’s energy sector, with over 13GW of projects under development, this new agreement represents our shared vision for a sustainable future for all.”
“Today, we reiterate our support for the country’s energy transition through advanced battery storage solutions. The agreement not only strengthens our leadership in energy storage technologies, but also demonstrates our commitment to delivering reliable and sustainable energy solutions across Central Asia.”
The signing of the IA underscores both ACWA Power’s leadership in energy storage technologies and Uzbekistan’s ambitions to expand its renewable energy portfolio.