Saudi Arabia-based power plant developer ACWA Power will construct two solar plants and three power storage systems in Uzbekistan, reported Reuters.
The two solar plants will have a total generation capacity of 1.4GW, while the three power storage systems will have a total capacity of 1.2GW.
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The investment agreements were signed by ACWA Power and the Energy Ministry of Uzbekistan.
These projects will be developed with an investment of $2.5bn.
According to the agreements, Uzbekistan will buy power from these generation facilities.
Riyadh-based ACWA will build a 400MW plant and a storage facility of 400MW in Tashkent province, a 1GW plant and a 400MW storage system in the Samarkand region, and a 400MW storage facility in Bukhara province.
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By GlobalDataDue to the drop in natural gas production from the maturing fields, Uzbekistan has been facing natural gas shortages to meet the requirements of its conventional gas turbine plants.
In recent years, Uzbekistan has signed several deals for renewable energy projects and has invited investors, mainly from the Gulf, with attractive contracts that include prices fixed in hard currency, reported by the news agency.
Uzbekistan intends to generate 25% of its power from renewable sources by the end of this decade. It was 10% in 2020.
Last year in August, ACWA signed agreements worth $12bn to build three energy projects in Uzbekistan. One of these projects included the construction of an onshore wind project in the Karakalpakstan region with a capacity of 1.5GW. Once built, this is expected to become the largest single onshore wind project in the world, reported The National News.
Last week, ACWA Power signed an agreement with the Kazakhstan government to construct a 1GW wind and battery storage project.
