Tashkent, Uzbekistan (UzDaily.com) — Saudi energy giant ACWA Power plans to sign a new US$5 billion agreement with the Government of Uzbekistan, Soumendra Rout, the company’s Country Head for Uzbekistan, announced during the Tashkent International Investment Forum.

According to Rout, the deal will be part of ACWA Power’s broader investment strategy aimed at increasing its total commitments in Uzbekistan to US$15 billion.

He emphasized that ACWA Power is already the largest foreign investor in Uzbekistan’s energy sector. To date, the company has implemented 19 projects in the country worth a combined US$5 billion — eight of which are focused on renewable energy.

“We are not going to stop here. Our objective is to expand our investments. During this forum, we plan to sign another agreement with the government of Uzbekistan worth US$5 billion,” Rout stated.

He also highlighted the importance of Islamic finance instruments for sustainable economic development, especially in supporting small and medium-sized enterprises (SMEs). According to him, Sharia-compliant financing mechanisms can offer deeper and more effective support for SMEs compared to traditional financial tools. “We are ready to share our experience with Uzbekistan and contribute to building a more inclusive financial system,” he added.