Sumitomo Corporation to Invest in Uzbekistan’s Largest Solar Energy Project

Tashkent, Uzbekistan (UzDaily.com) — Sumitomo Corporation of Japan, in partnership with ACWA Power of Saudi Arabia, Shikoku Electric Power (Yonden), and Chubu Electric Power (CHUBU), has signed project financing agreements for the largest solar power and energy storage complex in Uzbekistan’s history.

The project is being financed with the support of the Japan Bank for International Cooperation (JBIC), Asian Development Bank (ADB), European Bank for Reconstruction and Development (EBRD), and Islamic Development Bank (IsDB). Part of the commercial financing is insured by Nippon Export and Investment Insurance (NEXI).

The complex will include two solar power plants with a total capacity of 1,000 MW and energy storage systems (BESS) with a capacity of 1,336 MWh, located in the Samarkand and Bukhara regions. The project is expected to supply electricity to up to 600,000 households and will become the country’s largest integrated renewable energy initiative.

Construction is anticipated to be completed after 2027. The electricity generated will be supplied to the National Electric Grid of Uzbekistan under 25-year power purchase agreements (PPAs).

Sumitomo Corporation intends to contribute to Uzbekistan’s energy transition by leveraging its expertise in integrated renewable energy solutions. As of the end of March 2025, the total capacity of the company’s renewable energy projects reached approximately 2 GW.

The Uzbek government aims to increase the share of renewable energy to 30% of installed capacity by 2030. In a country where 80% of electricity is still generated from natural gas, solar power development is a strategic measure to reduce dependence on fossil fuels.

Key project parameters include a generation capacity of 1,000 MW and 1,336 MWh of energy storage, locations in the Samarkand and Bukhara regions, electricity purchaser as the National Electric Grid of Uzbekistan, planned operation start in 2027–2028, and ownership shares: ACWA Power — 51%, Sumitomo — 20.2%, Yonden — 14.4%, CHUBU — 14.4%.