Uzbekistan to Expand Investment in Renewable Energy
The Ministry of Investment, Industry and Trade and the Ministry of Energy of Uzbekistan and the Ministry of Investment of the UAE have signed a Memorandum of Understanding aimed at developing investment cooperation in priority sectors of the economy, including the production, transmission and distribution of renewable energy.
The document seeks to create a solid basis for attracting investments, implementing joint research programs, and exchanging technical knowledge, skills and experience between government agencies, regulatory authorities and private sector enterprises of both countries. The forms of cooperation provided for by the agreement include the identification, exchange and assessment of projects and investment opportunities for the production of wind, solar, and hydroelectric power plants, and the construction of energy storage facilities.
To ensure the effective implementation of the document, a joint plan for further activities will be developed, including specific mechanisms and responsible structures for its timely implementation.
