Over the past few years, Uzbekistan has attracted $35 billion in foreign investment into its energy sector. Representatives of international companies discussed new projects on October 16 at a meeting with President Shavkat Mirziyoyev. Investors represent more than ten countries.
Saudi Acwa signed an agreement to build a facility in Karakalpakstan, which is expected to provide 1 GW of round-the-clock power. The project is estimated to cost approximately $2 billion. By 2027, the company expects to sign new agreements for an additional $3 billion. Among Acwa's priorities are also the introduction of modern technologies, the development of local production, and the training of young specialists.
Masdar from the UAE has been operating in the Uzbek market since 2019. During this time, it has invested over $2 billion and implemented renewable energy projects with a total capacity exceeding 2 GW. Its portfolio includes solar and wind power plants, as well as energy storage systems.