(MENAFN- Trend News Agency) TASHKENT, Uzbekistan, December 4. Uzbekistan
and UAE have signed a Memorandum of Understanding (MoU) aimed at
developing investment cooperation in priority sectors of the
economy, including the production, transmission and distribution of
renewable energy, Trend reports.
The document was signed by Uzbekistan's Minister of Investment,
Industry, and Trade Laziz Kudratov, Uzbekistan's Minister of Energy
Zhurabek Mirzamakhmudov, and the UAE's Minister of Investment
The signed memorandum calls for the expansion of collaboration
in the domains of wind, solar, and hydroelectric power plants, as
well as the construction of facilities in Uzbekistan for storing
A cooperative follow-up strategy will be prepared for the
efficient execution of this agreement, which will include specific
methods and the identification of accountable structures for the
timely fulfillment of obligations.
Meanwhile, the UAE's entire investment portfolio in Uzbekistan
amounts at more than $4 billion as of July 2023.
Masdar, the UAE's energy business, recently signed a $2.6
billion agreement with the Government of Uzbekistan for the
combined development of solar PV and wind power projects totaling
2,150 MW and 500 MW, respectively.
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