TASHKENT, Uzbekistan, November 18. Uzbekistan, the Asian Development Bank (ADB), and ACWA Power have signed agreements introducing a “partial risk guarantee” mechanism for several major projects, Trend reports via the Uzbek Ministry of Economy and Finance.
The agreements were concluded within the framework of the 3rd Uzbekistan PPP Roundtable titled “Mobilizing Private Capital through Public–Private Partnerships (PPPs)” between the Ministry of Economy and Finance, the ADB, ACWA Power, and Uzenergosotish JSC.
The signed documents cover the following PPP projects:
• construction of a 200 MW wind power plant and a 100 MW energy storage system in the Republic of Karakalpakstan;
• construction of a 500 MW solar photovoltaic plant and a 334 MW energy storage system in the Samarkand region (Sazagan Solar 1);
• construction of another 500 MW solar photovoltaic plant and a 334 MW energy storage system in the Samarkand region (Sazagan Solar 2).
Additionally, a supplementary agreement was signed between Miahona and the Ministry of Water Resources to modernize and transfer 135 pumping stations in the Republic of Karakalpakstan to private management. Another document is the State Support Agreement, which was signed between South Korea’s Incheon company and the Ministry of Economy and Finance for the modernization of Urgench International Airport and its transfer to a private operator.
ACWA Power continues to play a pivotal role in Uzbekistan’s renewable energy landscape. To date, the company has successfully implemented four projects worth around $3 billion, while its ongoing project portfolio in the country exceeds $15 billion.