Saudi-listed ACWA Power and Japan’s Sumitomo Corporation will jointly develop several renewable energy and storage projects worth $4.2 billion in Uzbekistan.

These projects include Sazagan 1 and Sazagan 2 in Samarkand, each with 500 megawatts (MW) of solar photovoltaic energy and 334 MW of battery energy storage system (BESS).

The projects are expected to achieve commercial operations between second quarter 2026 and second quarter 2027.

The second set of projects includes Kungrad 1, 2 and 3 wind projects in the Republic of Karakalpakstan, Uzbekistan. Each project comprises a 500 MW wind power plant and 100 MW BESS, with commissioning planned in second quarter of 2028.

Under the joint development agreement, ACWA Power will offload a 49 per cent  stake in the Samarkand and Kongrad projects to Sumitomo. 

The partnership follows agreements announced during the Saudi-Japan Vision 2030 Business Forum held in May to drive cooperation in renewable energy and water solutions.

(Editing by Anoop Menon) (anoop.menon@lseg.com)

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