Saudi Arabia's ACWA Power and Japan's Sumitomo Corp have signed a joint development agreement to develop 2.5 GW of renewable energy projects, along with 968 MW of battery storage in Uzbekistan.
The projects, representing a combined investment of USD 4.2 billion, aim to support the country's energy transition.
Under the agreement, ACWA Power will sell 49% of its stake in the Samarkand and Kungrad projects to Sumitomo. The Sazagan 1 and 2 solar projects in Samarkand will each feature 500 MW of photovoltaic (PV) capacity and 334 MW of battery energy storage, with operations expected between 2026 and 2027.
The Kungrad 1, 2, and 3 wind projects in Karakalpakstan will each pair 500 MW of wind power with a 100 MW battery, targeting completion in 2028.
“This agreement demonstrates our ongoing commitment to supporting Uzbekistan's energy transition,” said JP Tiwari, vice president and head of business development for Central Asia at ACWA Power. “Uzbekistan is ACWA Power's second-largest market in terms of investments, and this partnership aligns with our goal to contribute to the country's sustainable development targets.”
