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ACWA Power to Develop Three Power Projects in Uzbekistan

Saudi ACWA Power-generating windmills are pictured in Jbel Sendouq, on the outskirts of Tangier, Morocco, on June 29, 2018. REUTERS/Youssef Boudlal/File Photo
Saudi ACWA Power-generating windmills are pictured in Jbel Sendouq, on the outskirts of Tangier, Morocco, on June 29, 2018. REUTERS/Youssef Boudlal/File Photo
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ACWA Power to Develop Three Power Projects in Uzbekistan

Saudi ACWA Power-generating windmills are pictured in Jbel Sendouq, on the outskirts of Tangier, Morocco, on June 29, 2018. REUTERS/Youssef Boudlal/File Photo
Saudi ACWA Power-generating windmills are pictured in Jbel Sendouq, on the outskirts of Tangier, Morocco, on June 29, 2018. REUTERS/Youssef Boudlal/File Photo

Uzbekistan and Saudi Arabia have planned three major power projects that will promote the use of clean and renewable energy in the Central Asian country.

Following the agreements signed in March 2020, cooperation between the Uzbekistan Ministry of Energy, the Ministry of Investment and Foreign Trade, and the Saudi company ACWA Power have led to three major milestones in the development of power projects, which are Uzbekistan’s ambitious energy Capacity by 2500MW to enable the transformation plan and increase energy, the Uzbek Ministry said in a press release.

The ground-breaking ceremony of the 1500MW Shirdia CCGT plant, followed by the signing of two Power Purchase Agreement and Investment Agreement for two wind power plants located in Bukhara and Navoi, was held in the presence of Deputy Prime Minister and Minister of Investments and Foreign Trade Sardor Umurzakov, Energy Minister Alisher Sultanov, as well as a Saudi Arabian delegation led by Saudi Minister of Investment Khalid al-Falih, and Saudi Ambassador to Uzbekistan Hisham Mishal Al- Suwailem.

ACWA Power will deliver these three projects using its technical knowledge, expertise, and experience, contributing directly to meeting Uzbekistan’s growing annual electricity demand that is expected to reach 110 billion kWh by 2030.

Saudi Minister of Investment Khalid al-Falih said the projects, which have an estimated total investment value of USD2.5 billion, will contribute directly to the growth of power generation capacity in Uzbekistan to keep pace with an increasing demand that is expected to reach 18 gigawatts/h by 2030.

Falih said that Saudi Arabia has a long history and a leading global position in the field of energy, pointing out that renewable energy in the Kingdom today has ambitious programs and a promising future, especially in light of rich resources in solar energy, wind energy, and competing expertise to develop these programs.

This is embodied in enabling the renewable energy sector, within its national energy mix, as it aims to raise the level of electricity production using renewable energy by 50 percent in 2030, while the remaining percentage will depend on gas production, according to the minister.

Falih pointed out that Saudi Arabia has ambitious plans in many other fields of renewable energy, as it launched, during the past year, several projects and initiatives in this context, including The Green Hydrogen Production Project in NEOM.

The Kingdom, as part of its interest in sustainable development, also initiated the circular carbon economy approach, which was endorsed by the leaders of the G20 countries, and represents a comprehensive, integrated and realistic approach to managing emissions that contribute to global warming, as well as its possible application in line with each country's priorities and circumstances.

For his part, Sultanov said that increasing Uzbekistan’s clean energy capacity includes a number of development and investment targets.

“By executing our plans efficiently, we will only attract more investment to Uzbekistan, and improve the energy situation of our country. The ministry extends its deepest thanks to ACWA Power and the extensive Saudi delegation to make this victory. We look forward to a long and fruitful work, "he said.

ACWA Power is also committed to training and upskilling 1000 local employees in Uzbekistan during the project’s construction and operation phases, generating long-term socio-economic value through knowledge sharing and job creation.

Mohammad Abunayyan, chairman of ACWA Power, said: “As a proud Saudi company, we are privileged to play a vital role in supporting Uzbekistan’s decarbonization efforts and energy transformation, stemming from the international cooperation between Saudi Arabia and Uzbekistan under their progressive and visionary leadership."

"Through the addition of new renewable energy capacity, exploration of innovative technologies and the advancement of cleaner, more efficient and cost-competitive gas power, ACWA Power is expanding its presence in Uzbekistan, a high growth market, leveraging our global expertise and technical know-how to create long-term and sustainable value for the country’s local communities,” Abunayyan added.

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China Hits Back at Trump Tariff Hike, Raises Duties on US Goods

A general view shows the Huangpu River and the financial district in Shanghai on April 9, 2025. (AFP)
A general view shows the Huangpu River and the financial district in Shanghai on April 9, 2025. (AFP)
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China Hits Back at Trump Tariff Hike, Raises Duties on US Goods

A general view shows the Huangpu River and the financial district in Shanghai on April 9, 2025. (AFP)
A general view shows the Huangpu River and the financial district in Shanghai on April 9, 2025. (AFP)

China hit back at US President Donald Trump singling out the world's second-largest economy for tariffs of more than 100% by raising additional duties on American products to 84% on Wednesday, deepening the trade war between the two superpowers.

Beijing also imposed restrictions on 18 US companies, mostly in defense-related industries, adding to the 60 or so American firms punished over Trump's tariffs.

The move comes after Trump made good on his threat to impose an additional 50% tariff on China unless it withdrew its retaliatory levies on the United States, taking total new US duties on Chinese goods this year to 104%.

Beijing announced in response it would also raise its levies on US goods by 50%, adding to the 34% increase previously announced and due to be implemented on Thursday.

"The US escalation of tariffs on China is a mistake on top of a mistake, which seriously infringes of China's legitimate rights and interests and seriously undermines the rules-based multilateral trading system," China's finance ministry said in a statement.

Trump has imposed "reciprocal" tariffs on dozens of economies he accuses of "ripping off" the US by selling goods into the world's largest consumer economy while maintaining trade barriers that inhibit US firms' market access.

But he has singled out China for the most punishing taxes, setting the stage for a standoff between the world's top two economies.

In signs that bilateral ties could deteriorate further, China's culture and tourism ministry late on Wednesday issued a travel advisory for citizens visiting the US, citing recent "deterioration" of economic and trade relations.

Shortly after, the Ministry of Education followed with an alert for students considering studying in the US state of Ohio, saying that a recent state education bill contained "negative" China-related provisions.

Travel and education are among the top US services exports to China.

TRADE SURPLUS 'INEVITABLE'

Earlier on Wednesday, China released a white paper on US-China commercial ties in which it said Beijing did not deliberately pursue a trade surplus.

"The trade imbalance in goods between China and the US is both an inevitable result of structural issues in the US economy and a consequence of the comparative advantages and international division of labor between the two countries," the report said.

China's trade surplus with the US widened to $295.4 billion last year from $279.1 billion in 2023, according to US Census data. The goods trade gap peaked in 2018 at $418 billion, the same year Trump, in his first term as president, imposed tariffs on Chinese outbound shipments.

The first US-China trade war concluded with Beijing agreeing to a "Phase 1" trade deal with Washington in 2020 in which it agreed to increase purchases of US exports by $200 billion over a two-year period.

Beijing failed to meet its targets when the COVID-19 pandemic struck, but said in its white paper that it had "scrupulously fulfilled its obligations" by taking steps to boost its purchases of US goods and accused Washington of having reneged on the deal.

"The US has systematically escalated economic and other forms of pressure against China," the report said. "Concurrently, the US has promoted false narratives related to human rights, Hong Kong, Taiwan, Xinjiang and the pandemic."

China also talked up its efforts to boost its trade in services with the US, economic activity that the Trump administration has not factored into its "reciprocal" duties.

WAR OF ATTRITION

China is bracing for an economic war of attrition as it tries to court other markets in Asia, Europe and the world. But other countries have much smaller markets than America and are also taking a hit from the tariffs.

During Trump's first term, China frustrated US financial and professional services firms by holding up license applications and carrying out office raids.

But Beijing cannot dip into the same playbook this time as it is trying to attract fresh foreign investment to bolster its economic recovery.

Still, Chinese policymakers are backing themselves to go toe-to-toe with the Trump administration a second time.

"If the US insists on escalating trade restrictions, China has both the determination and the means to respond forcefully - and will do so," a commerce ministry spokesperson said in a statement accompanying the white paper's launch.

"There are no winners in a trade war. China does not want one, but the government will never allow the legitimate rights and interests of the Chinese people to be harmed or taken away."

Ordinary Chinese people have started to voice their concern.

"The situation has already reached a blatant financial and trade war on the global stage," said Ling Wanhua, a 20-year-old Shanghai resident. "It's already hard for college graduates to find jobs. If the overall environment gets worse, the employment situation for graduates will be even worse."

As worries mount, China began censoring some tariff-related content online, with hashtags and searches for "tariff" or "104" mostly blocked on social media platform Weibo.

Reuters reported China's top leaders planned to convene a meeting as early as Wednesday to discuss measures to boost the economy and stabilize the capital markets.

"I think the 104% tariffs are kind of exaggerated," said Wu Lina, a 68-year-old tourist holidaying in Shanghai. "This president, the way this country treats China, oh my God, it will definitely cause some harm."