ACWA Power Launches Full Commercial Operation of 'Riverside' Battery Energy Storage Project in Uzbekistan

Tashkent | EcoPulse24

ACWA Power has officially received notification confirming the full commercial operation of the 'Riverside' battery energy storage project in Uzbekistan, marking a key step in the company’s international renewable energy and storage expansion. The announcement follows confirmation from Uzbekistan’s national grid regarding the project’s commercial operation date.

According to the disclosure, on February 11, 2026, ACWA Power received notice from its project company confirming the start of commercial operations for the 334 MW/501 MWh battery storage system, part of the Riverside solar project (specifically, station 2). This achievement marks the transition from construction and testing to full operation.

The Riverside project, located in Tashkent, Uzbekistan, comprises two main components: a 200 MW photovoltaic solar plant (station 1) and the 334 MW/501 MWh battery storage system (station 2). ACWA Power owns 100% of the project company operating both components, granting it full control over operations and related revenues.

The company stated that the financial impact from the battery storage system’s commercial operation is expected to appear in Q1 2026 financial results, reflecting the start of revenue recognition for the project.

This development comes as ACWA Power continues to strengthen its presence in Central Asian markets, driven by rising demand for sustainable energy solutions, particularly those integrating renewable generation with storage to support grid stability and increase solar energy uptake.

EcoPulse24 Analysis:
The full commercial operation of the Riverside battery energy storage project is a strategic move for ACWA Power, with implications beyond operations to broader financial and structural impacts. Economically, the project reinforces the model of integrating solar generation and storage - a pivotal approach for emerging markets seeking to increase renewable reliance without compromising grid stability. The timing of financial impact in Q1 2026 provides clarity on future revenue streams, especially given ACWA Power’s full ownership. Strategically, the expansion in Uzbekistan demonstrates the company’s technical and execution capability in new markets, reinforcing its position as a global developer in renewable energy and storage, and supporting its medium- and long-term growth.

About ACWA Power:
ACWA Power is a leading developer, financier, and operator of power generation and water desalination projects in Saudi Arabia and internationally. Its business model is based on developing, owning, and operating sustainable infrastructure assets under long-term contracts. Core activities include electricity generation, wholesale distribution and sales, desalination of seawater, and construction, maintenance, and operation of power and transformer plants.

The company participates in integrated projects covering development, ownership, leasing, and management of power and desalination plants, as well as the acquisition of existing assets in the energy and water sectors. Its operations also extend to owning and acquiring real estate and equipment necessary for supporting its operations and investment objectives, enhancing its ability to deliver reliable, sustainable solutions in energy and water.

Company History:
Founded in 2004 by Abdullah Abunayyan Trading Company, Abdul Kadir Al Muhaidib & Sons, and Mada Industrial Investment (now Al Rajhi Holding), ACWA Power was established in response to regulatory reforms in Saudi Arabia allowing private sector participation in power and water production. The company achieved early strategic successes, including the Shuaibah Water and Power Project and Petro Rabigh in 2005, followed by Shuqaiq and Marafiq in 2006. In 2008, the group restructured, forming a holding company to acquire ACWA Power and expand into high-growth markets outside Saudi Arabia. Since then, ACWA Power has managed and directed the group’s local and international operations.

Capital Structure and Stock Information:
ACWA Power’s authorized and paid-up capital is SAR 7,664,904,980, divided into 766,490,498 ordinary shares with a nominal and paid value of SAR 10 per share. This robust capital structure supports the company’s expansion in power and desalination projects and strengthens its ability to finance long-term growth strategies both domestically and internationally.