ACWA Power and KOWEPO Explore Renewable Energy Projects in Uzbekistan

South Korea's Korea Western Power (KOWEPO), a subsidiary of state-owned KEPCO, signed a memorandum of understanding with Saudi Arabia's ACWA Power in Tashkent on August 25, 2026, to jointly develop renewable energy and energy storage projects in Uzbekistan [1.2.1]. The partnership aims to combine KOWEPO's regional project experience with ACWA Power's extensive Central Asian pipeline while facilitating financing from South Korean institutions. Uzbekistan has become ACWA Power's second-largest global market, where it is developing 19 projects totaling over 10 GW with an estimated investment of $15 billion. ACWA Power has also secured priority rights to construct up to 2 GWh of battery energy storage capacity in the country. The initiatives directly support Uzbekistan's national target to achieve 25 GW of renewable capacity and generate 54% of its electricity from renewables by 2030.

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