ACWA Power Signs Implementation Agreement with the Uzbek Ministry of Energy

ACWA Power has signed a binding Implementation Agreement (IA) with the Ministry of Energy (MoE) of Uzbekistan to develop up to 2GWh of standalone Battery Energy Storage Systems capacity (BESS) across the country.

The announcement comes against the backdrop of Saudi Arabia signing an implementation programme to strengthen cooperation in the field of renewable energy with the Republics of Azerbaijan, Kazakhstan and Uzbekistan.

The agreement was formally signed on the sidelines of the United Nations Climate Change Conference (COP29) in Baku, Azerbaijan, 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 2 GWh 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.

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.