In a remarkable confluence of events, ACWA Power, the protagonist in the realm of power generation, water desalination, and green hydrogen plants worldwide, has embarked upon two momentous agreements during the hallowed gathering of the EBRD 2023 Annual Meeting and Business Forum in Samarkand. These agreements mark an extraordinary milestone in propelling Uzbekistan toward its ardent aspiration to decarbonize 35% of its energy sector by 2030.The first suite of agreements heralds a groundbreaking partnership with Uzkimyosanoat, the preeminent national holding company responsible for the chemical domain in Uzbekistan. This unprecedented alliance seeks to decarbonize the chemical sector through pioneering green hydrogen projects. Executed in two transformative phases, this initiative will usher in substantial reductions in natural gas consumption and carbon dioxide emissions. The second assemblage of agreements revolves around the ceremonial signing of financing documents for the esteemed Karatau wind farm, formerly known as the illustrious Nukus Wind Project. Boasting a cumulative investment value of US$120 million, this undertaking garners unswerving support from the National Electric Grid of Uzbekistan (NEGU), which shall act as the sole purchaser of the electricity generated by this project for a remarkable span of 25 years. The Uzbek Ministry of Economy and Finance (MoEF), through the Government Support Agreement (GSA), has lent its unwavering assistance to this prodigious venture. The project's financial foundation has been fortified through the contributions of Deutsche Investitions (DEG), the European Bank for Reconstruction and Development (EBRD), and Proparco. Marco Arcelli, the venerable Chief Executive Officer of ACWA Power, enthusiastically extolled the Uzbek government's steadfast commitment to decarbonization and their resolute investments in energy diversification. He remarked, "ACWA Power ardently facilitates the sustainable growth of communities across the globe by bestowing competitive power and water desalination solutions. In the realm of green hydrogen, we find ourselves at the vanguard of the industry, as exemplified by our participation in the Neom Green Hydrogen Project alongside Air Products and Neom. Our illustrious team has embarked upon a magnificent endeavor by launching our second project in Uzbekistan, in collaboration with Uzkimyosanoat and the Uzbek government, with the noble objective of propelling the chemical industry in Uzbekistan to the zenith of decarbonization. Moreover, the fruition of the Karatau wind project, with unwavering support from EBRD, DEG, Proparco, and the Ministries of Energy and Investment, Industry & Trade of Uzbekistan, marks a pivotal milestone in our grand endeavor to install approximately 5,000 MW of capacity within the country. This monumental feat shall result in the reduction of CO2 emissions by over 6 million tonnes by the year 2030."
In a remarkable confluence of events, ACWA Power, the protagonist in the realm of power generation, water desalination, and green hydrogen plants worldwide, has embarked upon two momentous agreements during the hallowed gathering of the EBRD 2023 Annual Meeting and Business Forum in Samarkand. These agreements mark an extraordinary milestone in propelling Uzbekistan toward its ardent aspiration to decarbonize 35% of its energy sector by 2030.The first suite of agreements heralds a groundbreaking partnership with Uzkimyosanoat, the preeminent national holding company responsible for the chemical domain in Uzbekistan. This unprecedented alliance seeks to decarbonize the chemical sector through pioneering green hydrogen projects. Executed in two transformative phases, this initiative will usher in substantial reductions in natural gas consumption and carbon dioxide emissions. The second assemblage of agreements revolves around the ceremonial signing of financing documents for the esteemed Karatau wind farm, formerly known as the illustrious Nukus Wind Project. Boasting a cumulative investment value of US$120 million, this undertaking garners unswerving support from the National Electric Grid of Uzbekistan (NEGU), which shall act as the sole purchaser of the electricity generated by this project for a remarkable span of 25 years. The Uzbek Ministry of Economy and Finance (MoEF), through the Government Support Agreement (GSA), has lent its unwavering assistance to this prodigious venture. The project's financial foundation has been fortified through the contributions of Deutsche Investitions (DEG), the European Bank for Reconstruction and Development (EBRD), and Proparco. Marco Arcelli, the venerable Chief Executive Officer of ACWA Power, enthusiastically extolled the Uzbek government's steadfast commitment to decarbonization and their resolute investments in energy diversification. He remarked, "ACWA Power ardently facilitates the sustainable growth of communities across the globe by bestowing competitive power and water desalination solutions. In the realm of green hydrogen, we find ourselves at the vanguard of the industry, as exemplified by our participation in the Neom Green Hydrogen Project alongside Air Products and Neom. Our illustrious team has embarked upon a magnificent endeavor by launching our second project in Uzbekistan, in collaboration with Uzkimyosanoat and the Uzbek government, with the noble objective of propelling the chemical industry in Uzbekistan to the zenith of decarbonization. Moreover, the fruition of the Karatau wind project, with unwavering support from EBRD, DEG, Proparco, and the Ministries of Energy and Investment, Industry & Trade of Uzbekistan, marks a pivotal milestone in our grand endeavor to install approximately 5,000 MW of capacity within the country. This monumental feat shall result in the reduction of CO2 emissions by over 6 million tonnes by the year 2030."
