Uzbekneftegaz, AKA Bank Discuss Solar Energy Financing

Tashkent, Uzbekistan (UzDaily.com) — The First Deputy Chairman of the Board of the joint-stock company Uzbekneftegaz held a working meeting with the management of the German financial institution AKA Bank.

The central theme of the talks was attracting long-term investments into the renewable energy sources sector, with a specific focus on developing solar energy projects in Uzbekistan.

During the bilateral consultations, representatives of the oil and gas company and the foreign bankers examined in detail the mechanisms of direct financing for the construction of industrial solar power plants.

The parties focused on the integration of international financial instruments into the republic's energy sector and worked out options for technological partnerships with leading global manufacturers of modern, highly efficient equipment and solar panels.

Following the meetings, an agreement was secured under which AKA Bank experts will prepare a preliminary package of proposals for structuring the financing of the planned projects.

Additionally, the German side will provide a detailed list of verified equipment manufacturers whose cooperation can be covered under the bank's existing targeted loan programs.

Both organizations confirmed their strategic readiness for the joint implementation of green energy initiatives and the gradual deepening of investment cooperation.