Photo: Acwa Power press service
Japanese companies and banks will take part in Uzbekistan’s largest “green” energy project. As part of this initiative, an international consortium will build solar power plants and energy storage systems in the country, with a total value of $1.45 billion, Gazeta.uz reported, citing Japan’s Nikkei.
According to Japanese media, the consortium includes three Japanese companies and Saudi Arabia’s Acwa Power. Ownership shares are distributed as follows: 51% held by Acwa Power, 20.2% by Sumitomo, and 14.4% each by Yonden and Chubu.
Project financing is provided by several credit institutions, including the Japan Bank for International Cooperation (JBIC), the Asian Development Bank, the European Bank for Reconstruction and Development, the Islamic Development Bank, and several private banks. JBIC will be the largest lender, offering $635 million in loans.
The project envisions the construction and operation of solar power plants with a total capacity of 1,000 MW — equivalent to the annual electricity consumption of approximately 600,000 households. In addition, energy storage systems with a combined capacity of 1,336 MWh will be built in Uzbekistan’s Samarkand and Bukhara regions.
Once implemented, the initiative will become the largest combined energy storage project in the country’s history. The first stage, Acwa Power Sazagan Solar 1, is scheduled for completion in 2027, followed by Sazagan Solar 2 in 2028.
The energy generated at these facilities will be sold to the state enterprise National Electric Grids of Uzbekistan under a 25-year agreement.
The project is a key step toward Uzbekistan’s goal of raising the share of renewable energy sources to 54% of total electricity capacity by 2030. The government has been actively promoting solar energy development, while energy storage systems are expected to become a critical component of the national grid, helping stabilize supply and demand across the market.
