Energy Transition In Central Asia Poses Deep Transformation Of Energy And Economy - ACWA Power

(MENAFN- Trend News Agency) BAKU, Azerbaijan, June 1. The energy transition in Central Asia and neighboring regions poses not simply a substitution of one fuel for another, but a deep transformation that addresses issues of energy security, economic growth, and responsibility to future generations, President for Central Asia at ACWA Power, Abid Malik, said at the ministerial dialogue on promoting the energy transition based on renewable energy sources in Central Asia, held as part of the Baku Energy Week, Tren d reports.

According to Malik, current investments in renewable energy in Central Asia, the Caucasus, and Türkiye have become possible thanks to reforms implemented by governments in the region, as well as the active participation of international financial institutions, including the World Bank, IFC, EBRD, ADB, and others.

He noted that Uzbekistan's example 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 ongoing and planned projects exceeds 11 GW, with investments of approximately $20 billion.

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