Three major agreements worth of US$ 12 billion were signed between the Ministry of Energy of Uzbekistan, the Ministry of Energy of Saudi Arabia and Saudi companies.
The agreements will become a platform for the development of cooperation in the fuel and energy complex between the two countries and stipulate cooperation on the development of the green hydrogen sector in Uzbekistan, investments from the Saudi Arabia.
The first document is the project of a 1.5 GW wind power plant in Karakalpakstan by ACWA Power. The project will become the largest wind farm not only in the region, but also in the whole world. It is planned that the power of the wind farm will be able to supply 1.65 million households with electricity and prevent the release of 2.4 million tons of carbon emissions per year.
A second cooperation agreement was signed with the ACWA Power and Air Products company aimed at the development of green hydrogen research and development and further production in Uzbekistan.
A document was signed indicating the intention of the Saudi Arabia to invest US$ 10 billion in the energy complex of Uzbekistan in the next 5 years. Within its framework, it is planned to implement projects in a number of promising areas. Among them:
- to continue cooperation in the field of renewable energy - production based on wind and solar energy, concentrated solar energy projects for the production of electricity;
- development of cooperation on production projects using natural gas as fuel, combined power plants based on gas turbines;
- projects aimed at using the most modern technologies of storage and collection of electric energy to ensure the stability of the network, for storage stations based on hydroelectric power stations;
- localization of the production of equipment, spare parts and services used in the energy sector, increasing the capacity of personnel and cooperation in the field of joint scientific developments.
