Uzbekistan took a step towards enhancing its renewable energy infrastructure by signing a trilateral Memorandum of Understanding (MOU) with Chinese company Yupont Group Ltd. on April 20. The agreement aims to facilitate the installation of solar panels across large industrial enterprises situated in Tashkent, the press service of Tashkent city administration reports. The collective capacity of these installations is projected to reach 100 megawatts (MW).
The signing ceremony took place in the presence of key stakeholders, including Shavkat Umurzakov, the Mayor of Tashkent; Sharof Rakhmanov, Deputy Mayor for Investments and Foreign Trade; and Rustam Kadyrov, Director for Strategic Issues of Tashkent Invest Company.
In addition to the collaboration with Yupont Group Ltd., Uzbekistan has been actively engaging with investors from China to further enhance its energy landscape. Recent discussions highlighted plans for the construction of another substantial solar power plant in Ahangaran, with an estimated investment of $2 bn.
Furthermore, the Chinese delegation expressed interest in various other ventures, including the development of a $20 mn health resort in Zangiata District, and investments in the establishment of a small industrial zone and the revitalization of residential infrastructure in Yangiyul.
The burgeoning partnership between Uzbekistan and China witnessed remarkable growth, with the total volume of Chinese investments in the Uzbek economy surpassing $14 bn as of the beginning of 2024. This influx of investments underscores the confidence of international stakeholders in Uzbekistan's economic potential and paves the way for collaborative ventures aimed at driving sustainable development and economic prosperity.
Follow Daryo's official Instagram and Twitter pages to keep current on world news.
Comments (0)