Riyadh, Saudi Arabia – Saudi-listed Acwa, the world’s largest private water desalination company, a leader in the energy transition, and a first mover into green hydrogen at scale, has signed USD 226 million of financing agreements for the Bash II 300 megawatts (MW) Wind Farm in Uzbekistan at the 2026 Asian Development Bank (ADB) Annual Meeting.

The agreements were executed with three leading international lenders, including the Asian Development Bank (ADB), the Asian Infrastructure Investment Bank (AIIB), and Standard Chartered Bank (SCB). The total USD 226 million in senior debt financing represents more than two-thirds of the project’s total cost.

Commenting on the signings, Dr. Samir J Serhan, Chief Executive Officer of Acwa, said: “Bringing ADB, AIIB and Standard Chartered behind a single project in Central Asia is not routine - it reflects years of delivery on the ground and real confidence in Uzbekistan's reform trajectory. Bash II will put 300 MW of clean power into a grid that needs it, serving hundreds of thousands of households for the next 25 years. This is what long-term commitment to a market looks like in practice.”

Located in the Gijduvan District of the Bukhara region in Uzbekistan, Bash II will further strengthen the country’s clean energy portfolio by enhancing renewable power generation and supporting efforts to diversify the nation’s energy mix. Building on the neighboring Bash I wind farm, the project represents a key component of a larger renewable energy cluster taking shape in the region.

Underpinned by a 25-year power purchase agreement with the National Electric Grid of Uzbekistan (NEGU), Bash II is expected to commence commercial operations in the second half of 2027. Once operational, it will supply electricity to more than 336,000 households and is expected to avoid approximately 475,000 tonnes of CO₂ emissions annually, supporting Uzbekistan’s efforts to meet its 2030 energy mix targets.

The financing package reflects strong lender confidence in Uzbekistan’s power sector reforms, the project’s economics, and Acwa’s delivery record across Central Asia, where the company is one of the region’s largest private investors in renewable generation, water, and green hydrogen.

About Acwa

Acwa (TADAWUL: 2082) is a Saudi-listed company and the world’s largest private water desalination company, the first mover into green hydrogen, and a leader in the global energy transition. Registered and established in 2004 in Riyadh, Saudi Arabia, Acwa employs over 4,000 people and is currently present in 15 countries in the Middle East, Africa, Central Asia, and Southeast Asia. Acwa’s portfolio comprises 110 projects in either operation, advanced development, or under construction, with assets under management (AUM) of SAR 455 billion (USD 121 billion) and the capacity to generate 96 GW of power (of which 52.3 GW is renewables) and manage 9.8 million m³/day of desalinated water. The energy and water capacity generated by Acwa’s assets is delivered on a bulk basis to address the needs of state utilities and industries on long-term, off-taker contracts under utility services outsourcing and public-private partnership models.

Learn more: www.acwapower.com

Acwa Media Contacts:
Halah Mohsen
Director - Media Affairs & External Comms
hmohsen@acwapower.com
media.inquiries@acwapower.com