Uzbekistan's spot network reported on April 17 that Uzbekistan's Ministry of Economy and Finance recently reached a landmark cooperation agreement with Saudi Arabia's ACWA Power company. According to the agreement, ACWA Power will invest in the construction of a large-scale wind power station and an associated energy storage system in the Beruniy and Karauzyak regions of the Autonomous Republic of Karakalpakstan in Uzbekistan through a public-private partnership (PPP) model.

Specifically, ACWA Power plans to build wind farms with a total installed capacity of 200 MW, while also supporting a 100 MW energy storage system. The implementation of this project will not only strongly promote the development of renewable energy in Uzbekistan, but also provide strong technical support for the transformation of the country's energy structure.

The total investment of the project is approximately $262 million, demonstrating ACWA Power's strong confidence and long-term commitment to Uzbekistan's new energy market. The Uzbek side also has high hopes for this cooperation project and has promised to provide a stable electricity recovery price for the project, specifically 4.09 cents/KWH. This pricing mechanism will effectively guarantee ACWA Power's return on investment, while also providing a reliable guarantee for Uzbekistan's energy supply.

It is worth mentioning that ACWA Power, as a world-renowned energy investment company, has a wealth of experience and technical strength. This cooperation with Uzbekistan will further consolidate ACWA Power's leading position in the field of new energy, and will also bring new development opportunities for Uzbekistan's energy industry.

Looking ahead, with the smooth progress of the project and its completion and operation, Uzbekistan's energy structure will usher in a greener and low-carbon development. At the same time, this cooperation project will also bring more business opportunities and cooperation space for both sides, and promote the in-depth cooperation and win-win development of the two countries in the field of new energy. Editor/Xu Shengpeng