Acwa Brings South Korean Partner Into Uzbekistan’s Renewable Energy Development

Business

Saudi energy company Acwa and South Korea’s Korea Western Power Co., Ltd. (KOWEPO) have signed a memorandum of understanding to explore joint opportunities in Uzbekistan’s renewable energy sector. The MoU was signed in Tashkent on August 25.

Acwa Brings South Korean Partner Into Uzbekistan’s Renewable Energy Development
The agreement establishes a framework for evaluating potential projects in renewable energy, energy storage and related infrastructure. Opportunities will be assessed on a project-by-project basis, subject to further evaluation, internal approvals and the conclusion of definitive agreements.

The companies also plan to facilitate engagement with South Korean financial institutions. According to Abid Malik, President of Acwa Central Asia, the partnership provides a platform to explore further opportunities in Uzbekistan’s energy sector and support the involvement of Korean financial institutions.

The signing ceremony was attended by Abid Malik and Lee Jung-bok, CEO of KOWEPO. For the South Korean company, the agreement provides an opportunity to strengthen its presence in Uzbekistan’s renewable energy market. KOWEPO plans to combine its international energy development experience with Acwa’s capabilities and established presence in Uzbekistan.

Acwa has operated in Uzbekistan since 2019. The country is one of the company’s key international markets, with projects spanning wind and solar power, energy storage, conventional generation and green hydrogen.

KOWEPO, meanwhile, has been developing energy projects in the Middle East. According to company information, its regional portfolio includes 3.5 GW of renewable energy capacity and 877 MW of combined-cycle gas turbine capacity. The two companies plan to combine this experience with Acwa’s capabilities to identify new projects in Uzbekistan and potentially in other countries across the region.

Примечание для редакции Bright Uzbekistan: цифры из исходного текста о 19 проектах Acwa, более 10 ГВт мощности и инвестициях до $15 млрд я не стал включать как отдельное утверждение, поскольку в свежем официальном релизе Acwa от 25 августа они не приведены. Это позволяет сохранить материал максимально фактологичным и избежать неподтверждённого расширения данных.

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