TASHKENT, Uzbekistan, July 22. Saudi ACWA Power announced the completion of a sale and purchase agreement to sell 35 percent of its shareholding in ACWA Power Bash Wind Project Holding Company Limited and ACWA Power Uzbekistan Wind Project Holding Company Limited, Trend reports.
According to the company, China Southern Power Grid International now owns a 35 percent stake in ACWA Power’s Bash and Dzhankeldy wind power projects in Uzbekistan.
The transaction marks the first joint investment between ACWA Power and China Southern Power Grid in a major renewable energy project in Central Asia. This milestone follows agreements signed in December 2022, setting the stage for financing, investment, and construction of ACWA Power's renewable energy projects in Saudi Arabia and Belt and Road Initiative countries.
Meanwhile, Power Construction Corporation of China and Saudi Arabian ACWA Power have started construction of a plant for the production of green hydrogen in Uzbekistan’s region of Chirchik.
In addition, ACWA Power will commission a 400 MW solar photovoltaic power plant and a 400 MW energy storage system in the Tashkent region.
ACWA Power will also build a 1,000 MW photovoltaic power plant and 400 MW energy storage systems in Samarkand. In addition, there are 400 MW of energy storage systems in the Bukhara region.