Search Site

Trends banner

Oracle shares up 35%

Huge AI contracts lead to the surge.

ADCB to raise $1.66bn

The rights issue aimed at boosting growth.

EGA H1 revenue $4.11bn

Net profit before GAC $445 million.

Borouge to pay $660m H1 dividend

Its net profit for H1 was $474 million.

TAQA secures $2.31bn loan

It will be utilized in a phased manner.

ACWA Power launches Phase I of green hydrogen project in Uzbekistan

ACWA Power Project DAO is a 150MW dispatchable renewable hybrid plant.
  • The first phase, a 3,000 ton- green ammonia pilot project, is already underway following the signing of the hydrogen purchase and power purchase agreements in May 2023.
  • Once the second phase is complete, 2.4 GW of wind energy will power the production of 500,000 tons per year of green ammonia.

Riyadh, Saudi Arabia — Saudi renewables giant ACWA Power has said it launched the first phase of green hydrogen project in Uzbekistan, with a production capacity of 3,000 tons per year.

In a statement, the company added that the project will be developed in two phases. The first phase, a 3,000 ton- green ammonia pilot project, is already underway following the signing of the hydrogen purchase and power purchase agreements in May 2023, according to Argaam.

Once the second phase is complete, 2.4 GW of wind energy will power the production of 500,000 tons per year of green ammonia.

When completed in full, this will be ACWA Power’s second utility-scale green hydrogen project after the NEOM Green Hydrogen Project in Saudi Arabia, which is a joint venture between ACWA Power, NEOM and Air Products.

In May, the Tadawul-listed firm signed a hydrogen purchase agreement with Uzkimyosanoat, an Uzbek state-owned chemical company, and a power purchase agreement with the National Power Grid of Uzbekistan. The two agreements are valued at $100 million, according to data available with Argaam.