The energy transition in the countries of Central Asia and neighbouring regions is not merely a matter of replacing one type of fuel with another, but a profound transformation that touches on issues of energy security, economic growth and responsibility towards future generations.
According to Trend, this was stated by Abid Malik, President for Central Asia at ACWA Power, at the ministerial dialogue on promoting the renewable energy transition in Central Asia, held as part of Baku Energy Week.
According to A. Malik, current investments in renewable energy in Central Asia, the Caucasus and Turkey have been made possible by reforms implemented by the governments of the region’s countries, as well as the active participation of international financial institutions, including the World Bank, IFC, EBRD, ADB and other organisations.
He noted that the example of Uzbekistan demonstrates significant progress: ACWA Power began operations in the country in 2020 with its first gas-fired power generation project, and today the portfolio of projects under implementation and in the pipeline exceeds 11 GW, with investments of around US$20 billion.
Speaking about Azerbaijan, he reported on the implementation of a 240 MW wind project, whilst in Turkey the company plans to develop up to 5 GW of renewable capacity.
