Saudi-listed Acwa has signed an MoU with Korea Western Power (KOWEPO) to explore renewable energy opportunities in Uzbekistan.

Signed in Tashkent, the agreement covers potential cooperation in renewable energy, energy storage and related infrastructure projects.

The partnership will initially focus on identifying and evaluating renewable energy opportunities in Uzbekistan on a project-by-project basis.

 The companies will leverage their respective business development expertise and local capabilities to assess potential projects.

The MoU was signed in the Uzbek capital in the presence of Acwa Central Asia President Abid Malik and KOWEPO CEO Lee Jung-bok.

 Any potential projects will remain subject to further evaluation, internal approvals and definitive agreements, the companies said.

Abid Malik, President of Acwa Central Asia, said: “We are pleased to sign this MoU with KOWEPO following several months of constructive engagement and KOWEPO’s visit to our facilities in Uzbekistan. This collaboration reflects growing international confidence in Uzbekistan’s energy sector and creates a platform to explore potential opportunities in renewable energy and related infrastructure. We also look forward to working together to facilitate engagement with Korean financial institutions and support the continued development of Uzbekistan’s energy transition.”

Lee Jung-bok, KOWEPO CEO, said: “This MoU with Acwa represents an important step in exploring potential opportunities in Uzbekistan’s renewable energy market. We look forward to evaluating opportunities for cooperation and leveraging our respective strengths and experience. Building on the business experience we have accumulated in the Middle East and our cooperative relationships with globally renowned companies, we will continue to identify new growth opportunities.” -OGN/TradeArabia News Service