ACWA Power agreed on investments in Uzbekistan's energy sector of up to $3.5 billion by 2027

Head of Saudi ACWA Power Muhammad Abunayyan spoke about the outcomes of the Investors Council in Tashkent: the company signed a $1.5 billion contract for a 1 GW round-the-clock generation project and agreed on direct investments of up to $3.5 billion in 2027. In November, a visit by a delegation of more than 50 Saudi companies is expected.

tafs uz editorial deskFirst published on tafs uz 17 October 2026 at 19:032 min readAI translation

The key facts

ACWA Power signed a $1.5 billion contract — a 1 GW complex for round-the-clock electricity generation, the first of its kind in Central Asia
Agreement on $3.5 billion in direct investments in 2027
In November, a visit by a delegation of more than 50 Saudi companies is expected

$1.5 billion contract and investment plans

On October 16, President of Uzbekistan Shavkat Mirziyoyev held a series of meetings with participants of the Investors Council in the fuel and energy sector. One of them was attended by the head of the Saudi company ACWA Power, Muhammad Abunayyan, who then, in an interview with the O’zbekiston 24 TV channel, spoke about the results of the event. According to him, the head of state's remarks on the goals of developing the energy sector and investments in it 'inspired' the meeting participants.

The first project of its kind in the region

At the meeting, ACWA Power concluded a contract worth $1.5 billion for the implementation of a project that makes it possible to generate electricity around the clock. The 1 GW complex, according to Abunayyan, will be the first of its kind in Central Asia. In addition, the company agreed to provide Uzbekistan with another $3.5 billion in direct investments in 2027.

Visit of the Saudi delegation and the scale of cooperation

The head of ACWA Power said that in November a business delegation comprising representatives of more than 50 Saudi companies is expected to visit Uzbekistan. They are working on partnership projects in industry, logistics, and agriculture. According to Abunayyan, Saudi Arabia has already invested more than $26 billion in Uzbekistan, and he expressed his readiness to contribute to the development of the republic's economy.