Saudi ACWA Power will build two new PV plants in Uzbekistan. The investment agreements were signed on March 4, the Ministry of Energy and the Ministry of Investment, Industry and Trade said.
The agreements provide for the commissioning of:
- A 400 MW PV plant and a 400 MW energy storage system in the Tashkent province;
- A 1000 MW PV plant and 400 MW energy storage systems for in the Samarkand province;
- 400 MW energy storage systems in Bukhara province.
The projects also provide for the construction of high-voltage power lines. As reported, the projects will attract $2.5 billion of investment.
During the event, the 400 MW PV plant project in the Tashkent province was launched. It is expected that as a result of its launch, 900 million kWh of electricity per year will be produced, 257 million cubic meters of gas will be saved, and emissions of 360 thousand tons of harmful gases into the atmosphere will be prevented.
ACWA Power will design, finance, build and operate the power plant for 25 years.
According to the Ministry of Energy, the project to introduce energy storage systems in Uzbekistan will be "the largest storage system in the region" that will play "an important role in stabilizing the energy system and developing renewable energy sources in the country."
“Energy storage systems prevent the impact of unstable renewable energy sources on a single grid. With their help, it is possible to accumulate surplus electricity during the production period and use the accumulated energy during the period of low production.
As part of the projects, it is planned to create more than 3,000 new jobs during construction and 300 during operation, generate 3.5 billion kWh per year, save 1 billion cubic meters in gas per year.
ACWA Power's total investment in energy projects in Uzbekistan today is $7.5 billion.
