Saudi ACWA Power to deliver $4.1bn of green hydrogen and wind projects in Uzbekistan

By Muzaffar Ismailov in Tashkent May 21, 2023

Saudi Arabia's ACWA Power has announced plans to construct green hydrogen and wind projects in Uzbekistan.

In partnership with state-owned Uzkimyosanoat, it will implement green hydrogen projects in two phases. The first $100mn phase is to provide 3,000 tonnes/year of green hydrogen to the Uzbek chemicals industry as a replacement for natural gas. The second $4bn phase will construct facilities to provide 2.6 GW of renewable energy.

The second deal provides for the financing of the $120mn Karatau wind farm project, formerly known as Nukus wind project. It has a capacity of 100 MW and it is expected that it will be commissioned in February 2025.

The European Bank for Reconstuction and Development (EBRD) is to provide a loan of $19.3mn, with co-financing from the German Development Finance Institution Deutsche Investitions und Entwicklungsgesellschaft (DEG) and the French Development Finance institution Societe de Promotion et de Participation pour la Cooperation Economique (Proparco).

ACWA Power's plans to launch green hydrogen in Uzbekistan were first unveiled at the beginning of the year. The company said it would set up production on the basis of the ammonia plant in Chirchik.

Back in 2021, Uzbekistan’s Energy Ministry signed agreements with ACWA and American Air Products on the development of hydrogen energy in the country. In August 2022, the parties concluded another agreement, this time on the industrial production of green hydrogen.

Related Articles

Ferkensco to construct $600mn nitrogen fertilizer plant in Uzbekistan’s Karakul FEZ

Investment company Ferkensco Management is to construct a 495,000 tonne/year nitrogen fertilizer plant in Uzbekistan’s Karakul Free Economic Zone (FEZ), UzA ... more

Foreign investors will likely only pick up shares from Uzbekistan’s ‘People’s IPOs’ in secondary market says Bluestone head

International investors will probably only be able to pick up shares in Uzbekistan’s next wave of privatisations—dubbed the “People’s IPOs”—in the secondary market. That’s according ... more

Uzbekistan's Mirziyoyev appoints daughter to position seen as ‘head of presidential administration’

Uzbekistan's President Shavkat Mirziyoyev has appointed his 38-year-old daughter, Saida Mirziyoyeva, as an assistant to the president, the official Telegram channel of the president announced on ... more