The Saudi company ACWA Power has announced that it has sold 35% of its stake in two wind power plants in Uzbekistan to China Southern Power Grid International. The Bash and Dzhankeldy plants in the Bukhara region are currently under construction.
The deal is the first joint investment project between ACWA Power and China Southern Power Grid International in renewable energy sources in Central Asia. The cost of building the two wind power plants, which have a total capacity of 1 GW, is $1.3 billion. The agreement was signed on July 17 by Uzbekistan’s Minister of Energy, Jorabek Mirzamahmudov. The terms of the deal were not disclosed.
In December 2022, ACWA Power signed agreements with Chinese partners to finance, invest in, and build renewable energy projects in Saudi Arabia and ACWA Power’s Belt and Road Initiative countries.
The Times of Central Asia has previously reported on projects being implemented by ACWA Power in Uzbekistan.
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