The Ministry of Investment, Industry and Trade and ACWA Power signed an investment agreement on the development of the Green Hydrogen project for a total of $88 million.
The document was signed on the 2nd day of the 32nd Annual Meeting of the EBRD Board of Governors in Samarkand.
Marco Arcelli, Chief Executive Officer of ACWA Power Uzbekistan, noted that this is the second ACWA Power project to produce "green hydrogen" in the world. He noted that the first project will be implemented in Saudi Arabia and the second in Uzbekistan.
According to him, at the first stage the project will be smaller in capacity compared to the project in Saudi Arabia, but the second stage will be large. Arcelli noted that green ammonia will be produced from "green hydrogen", which will allow Uzbekistan to strengthen ties with the EU.
