Acwa Power, a Saudi-listed energy company, operates across renewable energy, water desalination, and conventional power generation. The company’s total installed capacity is 65.2 gigawatts (GW), with projects in operation, construction, or advanced development. Its portfolio spans 13 countries and is valued at SAR 348 billion ($93 billion).
In a recent development, Acwa Power signed an agreement with Uzbekistan’s Ministry of Energy to establish up to 2 gigawatt-hours (GWh) of standalone battery energy storage systems (BESS). The agreement allows Acwa Power to receive contractual priority for this capacity, enabling it to offer competitive tariffs for energy storage. Feasibility studies will be conducted to determine the most suitable locations for the battery storage systems. The agreement, signed in 2024, will remain valid for two years and may be extended by mutual consent.
The 2 GWh BESS project in Uzbekistan aims to improve grid stability and support the integration of renewable energy sources into the national power system. This development marks a step forward in Acwa Power’s efforts to expand its renewable energy and storage capabilities globally.
In addition to the BESS initiative, Acwa Power recently secured $238 million in funding for a 240 MW wind energy project in Azerbaijan. The company is also involved in large-scale renewable energy projects, such as the Sakaka PV plant in Saudi Arabia, with a 300 MW capacity. Acwa Power has invested heavily in Africa, spending $7 billion on renewable energy projects, including solar and wind farms.
The company’s diverse portfolio also includes conventional power generation and water desalination projects. These operations support reliable power supply and provide clean water to millions of people, particularly in water-scarce regions. Acwa Power continues to explore new technologies and markets to meet growing global energy demands.
