Azerbaijan, Uzbekistan to produce components of renewable energy source
Azerbaijan and Uzbekistan may establish a joint venture producing components for renewable energy sources, Azernews reports, citing the head of the department of the Institute of Strategic and Interregional Studies under the President of Uzbekistan Milana Bazarova telling at a round table on "Uzbekistan and Azerbaijan: new horizons of cooperation".
According to him, Uzbekistan and Azerbaijan have great prospects in this direction, and this initiative will lead to faster achievement of the set goals.
"Uzbekistan aims to increase the production of renewable energy to 25,000 megawatts in the near future. Thus, 10 solar and wind power plants are expected to be built in 2025. It is planned to produce up to three thousand gigawatts of energy by 2026, and by 2030 to reach 8 gigawatts," she added.
According to M. Bazarova, the renewable energy sector is a strategic development direction for both Uzbekistan and Azerbaijan, and taking this into account, it would be appropriate to build a joint enterprise producing the relevant components.
Besides, Mukhsinjon Kholmukhamedov, deputy director of the Center for Economic Analysis and Reforms under the Presidential Administration of the Republic of Uzbekistan, noted that 204 companies with Azerbaijani capital operate in Uzbekistan.
According to him, in 2022, Azerbaijan invested 12 million US dollars in the economy of Uzbekistan.
"The main spheres of activity of Azerbaijani companies in Uzbekistan are machine building and metallurgy, light industry, production of food products, construction of residential houses, service and other fields," he said.
According to M. Kholmukhammedov, the Azerbaijani market is of special interest to Uzbekistan.
"We can expand cooperation in the direction of agriculture, especially within the framework of the EKTIS (Electronic Agricultural Information System) project. EKTIS is an electronic information system where joint projects are developed in the fields of chemical and oil processing," he added.
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