ACWA Power, a leading developer, owner, and operator of power generation and desalination plants, announced a new strategic milestone in Central Asia with the full commercial operation of the second phase of its Riverside Power Project in Uzbekistan. This milestone involves the commissioning of a 334 MW battery energy storage system (BESS) with a storage capacity of 501 MWh.
In an official statement published on the Saudi Stock Exchange (Tadawul), ACWA Power confirmed that it had received official notification from the National Grid of Uzbekistan confirming the commercial commissioning date of the second phase of the project. ACWA Power is wholly owned by the project company, reflecting its strong confidence in the Uzbek market and its long-term commitment to developing the country's energy sector.
General context and importance of the project for Uzbekistan
This project is part of Uzbekistan’s ambitious plans to reform its energy sector, diversify its energy sources, and reduce its reliance on fossil fuels. The Uzbek government aims to increase the share of renewable energy in the national energy mix to 25% by 2030, a goal that requires significant investments in solar and wind power projects, as well as advanced energy storage solutions to ensure grid stability. The Riverside project, located in the vibrant Tashkent region, is a prime example of this approach.
The project consists of two integrated phases: the first is a 200 MW photovoltaic solar power plant, and the second is a battery energy storage system, which is now operational. This integration of power generation and storage is key to overcoming the challenge of the intermittent nature of solar energy, as surplus electricity produced during daylight hours is stored for use during peak demand periods or when sunlight is unavailable.
Expected local and regional impact
At the national level, the battery energy storage system will contribute to enhancing the reliability and security of Uzbekistan's national electricity grid, providing a stable power supply for citizens and industries. The project also supports the country's efforts to achieve its climate goals and reduce carbon emissions, further solidifying its position as an environmentally responsible nation.
Regionally, this project positions Uzbekistan at the forefront of Central Asian countries in adopting clean energy technologies and advanced storage solutions, potentially encouraging neighboring countries to adopt similar models. The project also strengthens economic and investment ties between Saudi Arabia and Uzbekistan, with ACWA Power being a major investment arm in the global energy sector.
Financially, the company expects the financial impact of starting up this plant to appear in its financial results starting from the first quarter of 2026, reflecting the beginning of a new phase of revenue generation from this important investment.
