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Acwa Power invests USD 13 billion in Uzbekistan

The panel session " ESG: new approaches to sustainable investment and business " at TIIF-2024 brought together experts to discuss the latest trends in ESG and their impact on international investors' decisions. - As for our overall portfolio in Uzbekistan, we have more than 15 projects. Some are under construction, others are in active development. This is more than USD 13 billion in investments. We are implementing these projects across the country - in Tashkent, Syrdarya, Samarkand, Bukhara, Karakalpakstan and other places," said Country Head of Acwa Power John Zaidi. - Acwa Power is part of Uzbekistan's green transition, and I think this is a story that is very important to tell everyone. The share of the country's green energy in the energy consumption structure is expected to increase from 26% to more than 80%. Participants discussed the latest ESG developments and trends shaping the approaches of international investors in assessing opportunities in emerging markets. The session examined Uzbekistan's priorities in the field of sustainable development to maintain the dynamics of attracting growing and diverse forms of foreign direct investment. Experts shared their vision of integrating ESG factors into investment strategies and business operations to ensure long-term sustainability. - ECG ideas are realized in AirProduct projects. Last year, globally, we helped our customers reduce greenhouse gas emissions by 86 million tons, three times more than we produce ourselves. We have a plan to reduce our own emissions by a third by 2030," said Artur Gazizyanov, Director for Central Europe and Central Asia at AirProduct. - One of the projects in Uzbekistan is a CO2 capture plant in Navoi. It will capture more than 40,000 tons of CO2 per year generated from the ammonia production cycle at the Navoi Nitrogen Plant. The session provided a platform for constructive dialog on introducing ESG principles in Uzbekistan and increasing its investment attractiveness.