ACWA Power Signs Implementation Agreement with the Uzbek Ministry of Energy for 2 GWh Battery Energy Storage Systems Capacity

ACWA Power Signs Implementation Agreement with the Uzbek Ministry of Energy for 2 GWh Battery Energy Storage Systems Capacity
  • Under the agreement, ACWA Power receives contractual priority in Uzbekistan for new 2GWh battery energy storage systems capacity.

Baku, Republic of Azerbaijan; 16 November 2024: In the esteemed presence of President Shavkat Mirziyoyev of the Republic of Uzbekistan, President Ilham Aliyev of the Republic of Azerbaijan, and His Royal Highness Prince Abdulaziz bin Salman bin Abdulaziz Al Saud, Minister of Energy of Saudi Arabia, ACWA Power, the world’s largest private water desalination company, leader in energy transition and first mover into green hydrogen, has signed a binding Implementation Agreement (IA) with the Ministry of Energy (MoE) of Uzbekistan to develop up to 2GWh of standalone Battery Energy Storage Systems capacity (BESS) across the country.

The announcement comes against the backdrop of Saudi Arabia signing an implementation programme to strengthen cooperation in the field of renewable energy with the Republics of Azerbaijan, Kazakhstan and Uzbekistan.

The agreement was formally signed on the sidelines of the United Nations Climate Change Conference (COP29) in Baku, Azerbaijan, with both parties reaffirming their commitment to advancing renewable energy technologies and reducing carbon emissions. The IA follows a Memorandum of Understanding (MoU) signed between ACWA Power and Uzbekistan’s Ministry of Energy during the Tashkent Investment Forum in May 2024.

Under the agreement, ACWA Power receives contractual priority for 2 GWh of new BESS capacity in Uzbekistan, allowing the company to offer competitive tariffs. The agreement is valid for two years and may be extended by mutual consent. Both parties will collaborate on feasibility studies to identify optimal locations for BESS projects.

The signing of the IA underscores both ACWA Power’s leadership in energy storage technologies and Uzbekistan’s ambitions to expand its renewable energy portfolio.

ACWA Power is already a key contributor to Uzbekistan’s renewable energy landscape, which is its second-largest market outside of Saudi Arabia. The future development of over 2GWh of BESS capacity projects further consolidates its position as a pioneer in energy storage in the region. 

The IA also highlights Uzbekistan's focus on leveraging advanced technologies to enhance grid stability and integrate more renewable energy into its national power system.