Skip to content Skip to Search
Skip navigation

Acwa Power to build energy storage systems in Uzbekistan

By Pramod Kumar
Machine, Motor, Engine Acwa Power
Acwa Power and Uzbekistan’s energy ministry will collaborate on feasibility studies to identify optimal locations for BESS projects

The Saudi renewable power company Acwa Power has agreed with Uzbekistan’s energy ministry to develop up to two gigawatt hours (GWh) of standalone battery energy storage systems capacity (BESS) avross the Central Asian country.

The deal comes after a memorandum of understanding signed during the Tashkent Investment Forum in Uzbekistan in May 2024.

Under the agreement, Acwa Power will receive contractual priority for 2 GWh of new BESS capacity in Uzbekistan, which will allow it to offer competitive tariffs.

The two parties will collaborate on feasibility studies to identify optimal locations for BESS projects.

The agreement is valid for two years and can be extended by mutual consent.

This month Acwa Power secured $238 million in funding to support a wind energy project in Azerbaijan.

Last month, Acwa Power‘s CEO, Marco Arcelli, said the company had spent $7 billion so far in Africa, all on renewables. 

The Saudi-listed company’s portfolio comprises projects in operation, advanced development or construction worth SAR348 billion ($93 billion).

Acwa Power has a combined capacity to generate 65.2 gigawatts of power and manage eight million cubic metres per day of desalinated water.

Latest articles

Claridge's Hotel. Maybourne also owns the Berkeley, the Connaught and the Emory in London

Qatar-backed owner of Claridge’s to open hotel in Dubai

Maybourne Hotels, the owner of Claridge’s in London, is planning to expand to Dubai, Paris, New York and Miami, its co-chief executive has said.  The company, owned by Qatari royals Sheikh Hamad bin Jassim bin Jaber Al Thani and Sheikh Hamad bin Khalifa Al Thani, owns and operates six hotels – four in London and […]

UAE deputy prime minister and finance minister Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum. The ministry said the tax system is "aligned with global standards"

UAE to introduce 15% tax on large multinationals

The UAE is to increase corporate tax on large multinational enterprises (MNEs) to 15 percent from January 1 2025, the Ministry of Finance has announced. MNEs currently pay 9 percent of their profits in the Emirates. The domestic minimum top-up tax (DMTT) will apply to multinational enterprises with consolidated global revenues of €750 million ($793 […]

The US has overcome misgivings about the UAE's relationship with China to approve computer chip exports

US clears export of advanced AI chips to UAE

The US has approved the export of advanced computer chips used for artificial intelligence to the UAE, reports indicate. Under the agreement the UAE will allow exports to a Microsoft-operated facility for use by Emirati state-backed AI company G42. Microsoft has invested more than $1.5 billion in G42 and holds a minority stake and board […]

John Bass, US undersecretary of state, will visit Jordan this week

US senior official in Jordan to discuss bilateral issues

US undersecretary of state John Bass will arrive in Jordan on Monday to discuss a range of bilateral issues and this week’s $845 million cash transfer to support the Arab state. During meetings with senior Jordanian government officials Bass will also discuss efforts to de-escalate regional conflicts, the US Department of State said in a […]