BAKU, Azerbaijan, October 7. Uzbekistan and Masdar discussed expanding cooperation in renewable energy and accelerating the implementation of new investment projects during a meeting in Tashkent on Oct. 6.
This was reflected in the statement by the Ministry of Investment, Industry and Trade of Uzbekistan, following a meeting between Uzbek Investment, Industry and Trade Minister Laziz Kudratov and Abdullah Zayed, Masdar’s Executive Director for Business and Project Development.
The sides reviewed the current state and prospects of cooperation in the renewable energy sector, as well as the implementation of new investment projects in Uzbekistan, according to the Uzbek Ministry of Investment, Industry and Trade.
"Special attention was paid to accelerating the implementation of projects in the field of solar energy and energy storage systems, as well as developing new promising projects in these areas," the ministry said.
The discussions focused on speeding up projects in solar power and energy storage, as well as identifying additional opportunities for cooperation in these areas.
Masdar currently has nine renewable energy projects in Uzbekistan, with a total investment volume of $4.2 billion and a combined capacity of 4.8 GW.
Masdar’s portfolio reflects the growing role of international investors in Uzbekistan’s renewable energy sector, particularly in solar generation and energy storage. The meeting also provided an opportunity to discuss potential new projects and ways to advance practical cooperation, with both sides reaffirming their focus on expanding renewable energy cooperation and ensuring progress on investment projects in Uzbekistan.
