ACWA Power, Sumitomo ink deal to develop renewable energy projects in Uzbekistan

The signing ceremony

ACWA Power signed a joint development agreement with Japan’s Sumitomo Corporation to develop a number of renewable energy generation and storage projects worth $4.2 billion in Uzbekistan.

The projects include Sazagan 1 and 2 in Samarkand, each with a 500 megawatts (MW) solar photovoltaic (PV) capacity and 334 MW battery energy storage systems (BESS), ACWA Power said in a statement.

For more news and details on the projects

Both sub-projects are expected to achieve commercial operations between Q2 2026 and Q2 2027.

The second set of projects includes Kungrad 1, 2 and 3 wind projects in the Republic of Karakalpakstan, Uzbekistan. Each sub-project comprises a 500 MW wind power plant and 100 MW BESS. The projects are planned to be commissioned in Q2 2028.

Under the joint development agreement, ACWA Power divest 49% of its stake in the Samarkand and Kungrad projects to Sumitomo.

The partnership follows agreements announced in May 2024 on the sidelines of the Saudi-Japan Vision 2030 Business Forum, which encouraged collaboration on renewable energy and water solutions.