The Ministry of Energy and the Saudi company ACWA Power signed a contract for the construction of energy storage systems in Uzbekistan during the COP29 conference in Baku, according to the ministry's press service.
At the signing ceremony, Uzbekistan was represented by Energy Minister Jurabek Mirzamakhmudov and the Chairman of the Board of the state company "Uzenergosohtish," Jahongir Obidjonov. In October 2023, "Uzenergosohtish" was entrusted with the responsibilities for centralized electricity trading.
The planned capacity of the energy storage systems will reach 2 GW, with the project's estimated cost at $1.1 billion.
The project will involve research on the energy system across the entire republic, and based on the findings, regions will be selected for the phased implementation of energy storage systems.
Recently, Deputy Minister of Energy Umid Mamadaminov stated in an interview with Spot that Uzbekistan needs to build backup capacities of 10 GW by 2030 to integrate "green" energy resources.
Additionally, the Ministry of Energy signed a contract with the Emirati company Masdar for the construction of a 1 GW wind power plant in the Navoi region. However, the project's cost has not been specified.
Previously, Spot reported that Uzbekistan, Kazakhstan, and Azerbaijan signed an agreement for the export of "green" energy to Europe.