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Arab News: Uzbekistan and Saudi Arabia are committed to strengthening and developing cooperation in all areas, especially in the energy sector
It is noted that the model of this cooperation demonstrates a mutual commitment to prosperity through achieving the common goals of the 2030 strategies of the two countries, said the Minister of Energy of Saudi Arabia.
“During the main dialogue session of the Third Tashkent International Investment Forum, Prince Abdulaziz bin Salman stressed the intensifying relations between the two countries and the commitment of their leadership to strengthen and develop cooperation in all areas, especially in the energy sector,” the article says.
It is reported that the President of Uzbekistan Shavkat Mirziyoyev also took part in the forum.
The importance of the energy sector in the strengthening relations between the two countries, especially in the field of renewable energy sources, was emphasized. As an example, Uzbekistan's successful cooperation with ACWA Power is given.
It is noted that ACWA Power recently signed an agreement on the purchase of electricity with the National Grid of Uzbekistan for the implementation of the five-gigawatt Aral wind energy project worth 4.85 billion US dollars. Two weeks ago, ACWA Power announced that it had received an interim loan of $80 million from the Bank of China for its projects in Uzbekistan. The Saudi company said that the fund will increase the capacity of its Tashkent solar photovoltaic power plant with a capacity of 200 megawatts and a 500 MW per hour battery energy storage system in Uzbekistan.
“This deal was the culmination of the initial agreement reached during the 3rd One Belt, One Road Summit in October 2023, at which ACWA Power was represented by its chairman as the main speaker,“ the publication summarizes.
