Uzbekistan Signs $4.2 Billion Energy Deal with Sumitomo and ACWA Power

On April 9, Uzbekistan's Minister of Investment, Industry and Trade, Laziz Kudratov, held talks with senior executives from Japan's Sumitomo Corporation and Saudi Arabia's ACWA Power.

The meeting focused on reviewing the progress of major investment programs aimed at modernizing the country's energy infrastructure. The parties acknowledged that their joint efforts are ensuring high efficiency in the construction of renewable energy facilities.

Specific mechanisms to accelerate construction work and optimize the commissioning schedules for new capacities were agreed upon as a result of the negotiations.

Special attention was paid to supporting foreign investors' initiatives. Minister Kudratov emphasized his ministry's readiness to provide comprehensive assistance at all stages of project implementation. Representatives from the companies highlighted the importance of continuous interaction with Uzbek authorities, which facilitates effective project execution.

Following the talks, an agreement was signed for the joint implementation of five major energy projects with a total capacity of 3.5 GW and a value of $4.2 billion.