{
  "id": 3656118,
  "title": "Western Power Enters Central Asia With ACWA",
  "url": "https://urgent.news/2026/08/27/western-power-enters-central-asia-with-acwa",
  "topic": "business",
  "section": "Business",
  "published": "2026-08-27T03:42:16.000Z",
  "source": {
    "name": "BusinessKorea",
    "slug": "businesskorea",
    "url": "https://www.businesskorea.co.kr/news/articleView.html?idxno=275621"
  },
  "original_language": "en",
  "account": "Korea Western Power (KWP) has entered the renewable energy market in Central Asia, marking the first time a state-run power generation company from South Korea will do so. On August 25, KWP signed a memorandum of understanding with ACWA Power, an international energy company with a majority shareholder being Saudi Arabia’s Public Investment Fund. The partnership aims to expand renewable energy projects in Uzbekistan, a country experiencing rapid electricity demand growth due to economic expansion and industrialization.\n\nThe agreement between KWP and ACWA plans to leverage their respective project development expertise and local capabilities to secure major renewable energy platform projects in Uzbekistan. Uzbekistan has set a goal to increase renewable energy generation to 40% by 2030, while modernizing its power sector and building large-scale energy storage systems.\n\nACWA Power, with a global capacity of 98 gigawatts across 16 countries, currently leads the market in Uzbekistan with 11.5 gigawatts of projects, including the \"Tashkent Riverside\" project—a solar power facility coupled with a 500-megawatt-hour energy storage system. KWP already has four projects in the Middle East and is currently constructing and operating them, generating 3.5 gigawatts of renewable energy and 877 megawatts of combined cycle power generation.\n\nBuilding on this Middle East experience, KWP plans to utilize ACWA's local network to lay the groundwork for a successful entry into the Central Asian market. Following the signing ceremony, KWP President Lee Jung-bok met with Uzbekistan's Minister of Energy and the Vice Minister of Investment, Industry, and Trade to discuss sharing insights on the local power industry and potential cooperation strategies. Lee stressed that KWP will serve as a catalyst, connecting overseas business projects to help South Korean small and medium-sized enterprises flourish in Central Asia.\n\nACWA Power's Central Asia representative, Abid Malik, echoed the commitment to support expanded cooperation with Korean financial institutions and work closely with KWP to ensure the ongoing success of Uzbekistan's energy transition.",
  "summary": "Korea Western Power will become the first state-run power generation company in South Korea to enter the renewable energy market in Central Asia.Korea Western Power signed a memorandum of understanding with ACWA in Tashkent, Uzbekistan, on Aug. 25 local time to expand renewable energy projects. The",
  "key_points": [
    "Korea Western Power (KWP) partners with ACWA Power in Central Asia.",
    "KWP aims to expand renewable energy projects in Uzbekistan.",
    "ACWA leads market in Uzbekistan with 11.5 GW of projects."
  ],
  "editors_take": "This partnership enables Western Power to tap into Central Asia's growing renewable energy market, leveraging ACWA's local expertise to help meet Uzbekistan's 2030 renewable energy target and expand its presence beyond the Middle East.",
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}