Saudi-Uzbek energy investments reach $14B: Minister

Prince Abdulaziz bin Salman, Minister of Energy

Prince Abdulaziz bin Salman, Minister of Energy, stated that the energy sector represents an important aspect of the growing relationship between Saudi Arabia and Uzbekistan, especially in the field of renewable energy. The size of investments between the two countries in this sector exceeded $14 billion, aimed at producing more than 11 gigawatts of electricity from renewable energy.

This is reflected in the significant activity of Saudi companies in Uzbekistan, such as ACWA Power Co., the state-run SPA reported.

He pointed out that economic cooperation between the two countries serves as a model, especially in light of Uzbekistan's 2030 Strategy and Saudi Vision 2030, with their similar objectives aiming at economic development, diversification, and sustainable growth.

The Minister of Energy added that the relationship between both countries witnessed a significant leap, emphasizing the keenness of the leaderships of both countries to enhance and develop cooperation in all fields, particularly in the energy sector, for the benefit of both countries and their people.

Uzbekistan demonstrated a serious commitment to pursuing a fair and equitable energy transition, which aligns with the Kingdom's directions.

Prince Abdulaziz bin Salman explained that both countries share rational positions regarding the importance of energy security, the need to enhance development and preserve it, while emphasizing the role of both nations in collective efforts to address climate change.