By 2031 it is planned to transfer 40 percent of energy capacities of the country to renewable energy sources

The Deputy Prime Minister - Minister of Investments and Foreign Trade of the Republic of Uzbekistan Jamshid Khodjaev met with the Chairman of the Board of Saudi Arabia ACWA Power Muhammad Abunayan to discuss acceleration of current joint projects and further expansion of investment cooperation in the field of renewable energy development.

In particular, the parties considered the implementation process of the project on construction of a combined cycle heat power plant of 1500 MW on the basis of Syrdarya thermal power plant and the preparation for construction of two wind power plants of 500 MW each in Bukhara region. It was agreed to take specific practical measures to accelerate the implementation of the planned measures and commissioning of all projects as soon as possible.

Prospects of expanding investment cooperation were considered, implying implementation of new large-scale investment projects in Uzbekistan by the company. In this context the sides exchanged views on possibility of elaboration of new investment projects on construction of wind power stations with capacity up to 1,5 GW in the Republic of Karakalpakstan.

It was also noted, that these projects are part of the Programme of the Government of Uzbekistan on diversification of the energy balance of the country aimed at bringing the volume of electricity produced by wind power plants up to 3 GWt by 2030. Implementation of these projects is also expected to reduce carbon emissions by 1.6 million tons per year, thereby contributing to achieving the goal of shifting 40 percent of the country's energy capacity to renewable energy sources by 2031.