“Energy here will be cheaper than in China” — ACWA Power backs wind projects in Uzbekistan

According to Gazeta.uz, Abunayyan highlighted the rapid progress of reforms and the energy potential in Uzbekistan, saying:

“When I first visited Uzbekistan in 2019, I had a negative perception. But it turned out to be a beautiful country with an impressive leadership – a true revelation for me.”

He recalled that the only international trip made by the Saudi government during the COVID-19 pandemic was to Uzbekistan in January 2021, when an 80-member delegation visited Bukhara.

“The [Saudi] Minister of Investment was stunned. He remembered his visit in 2016 and was amazed by what he saw in 2021. He was inspired and deeply impressed by the great leader – His Excellency the President,” said Abunayyan.

He admitted that when ACWA Power first considered a wind power project in Karakalpakstan, the company had reservations due to political, social, and historical factors. However, a site visit changed their perspective:

“We were amazed and inspired. Upon our return, we told the government: we want to invest more. It may be hard to believe, but the wind potential in this region is truly unique not just for Uzbekistan, but globally. This is a high-potential area.”

According to him, Uzbekistan is poised to become the world’s most competitive green energy producer.

“Believe me, energy here will be cheaper than in China. The wind blows constantly here — even more than we expected. We conducted 12 months of wind measurements and have already launched the Nukus-1 project. I can tell you, the wind was stronger than we had anticipated. We are now implementing the Nukus-2 project, the Kungrad project, and more.”

Abunayyan noted that ACWA Power’s total investments in Uzbekistan exceed $5 billion, with contracts signed for 7.2 GW of capacity and an additional 2 GW in the final stage of agreement. In October, the company announced plans to build a 5 GW wind power plant in the Kungrad district of Karakalpakstan — a project estimated at $6.2 billion.

The “green cluster” in Kungrad is set to become a cornerstone of the region’s development strategy through 2035, with 90% of energy in this industrial zone sourced from renewables. This is expected to create favorable conditions for relocating energy-intensive industries. A recent presidential decree also grants a 15% electricity discount in this region compared to the rest of the country, effective from May 1.

Additionally, ACWA Power announced a new educational initiative.

“Today, I formally announce in the presence of [Presidential Assistant Saida] Mirziyoyeva: we will admit 100 young men and women from the region for training – starting this semester, in just a month and a half. We will send them to Shirin city for training, and then they will return to Karakalpakstan,” Abunayyan said.

With support from ACWA Power, an energy college was established in Shirin, Sirdaryo region, currently training over 500 students. Some graduates have already joined ACWA Power projects in Uzbekistan, according to the company’s Uzbekistan CFO, Sumendra Raut, who also spoke at the forum.