BAKU, Azerbaijan, June 20. Uzbekneftegaz and AKA Bank held talks on financing renewable energy initiatives, with a particular focus on solar power projects.
This was reflected in the statement by the Uzbekneftgaz, following the meeting between the First Deputy Chairman of Uzbekneftegaz and the management of AKA Bank to explore funding mechanisms for the development of solar power plants across the country.
"During the discussion, the possibilities of direct financing for the implementation of solar power plant projects were considered," Uzbekneftgaz said.
Discussions centered on opportunities for direct financing of solar energy projects, the use of international financial instruments, and potential cooperation with manufacturers supplying modern solar panels and related equipment.
At the conclusion of the meeting, AKA Bank agreed to prepare preliminary financing proposals for the projects and provide a list of manufacturers that could participate under existing financing programs.
Both sides reaffirmed their commitment to expanding cooperation and jointly advancing promising renewable energy projects, underscoring Uzbekistan’s broader efforts to increase the share of clean energy in its power mix.
