Saudi Arabia could invest $12 bln in Uzbekistan's energy sector

18 Aug 2022 14:34

Saudi Arabia could invest $12 bln in Uzbekistan’s energy sector

TASHKENT. Aug 18 (Interfax) – Officials from Uzbekistan’s Energy Ministry signed agreements worth $12 billion with Saudi Arabia’s Energy Ministry and companies during Uzbek President Shavkat Mirziyoyev’s visit to Riyadh on August 17-18.

“The agreements should become a platform for fuel and energy cooperation between the two countries. Interaction envisaged, including investments by the Saudi side, in the development of ‘green’ hydrogen in Uzbekistan,” the Uzbek ministry’s press office said.

A document was signed on the Saudi side’s intention to invest $10 billion in Uzbekistan’s energy sector over the next five years, with plans to carry out renewable energy projects.

Areas of cooperation also include energy sector digitalization, greenhouse gas emissions reduction and basic and advanced training of specialists.

ACWA Power intends to build a 1.5 GW wind farm in Karakalpakstan in north-west Uzbekistan. “This project will be the largest wind farm not only in the region, but the whole world. The wind farm will be able to provide electricity to 1.65 million households and prevent 2.4 million tonnes of carbon emissions per year,” the Uzbek ministry said.

A cooperation agreement with Saudi companies ACWA Power and Air Products focuses on research and development and subsequent production of “green” hydrogen.

CWA Power is currently building two wind farms with capacity of 500 MW each in the Bukhara region of Uzbekistan, another with capacity of 100 MW in Karakalpakstan, and a 1,500 MW thermal power plant in the Syrdarya region.

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