BAKU, Azerbaijan, August 10. India's Adani Group is exploring investment opportunities in Uzbekistan's hydropower sector, including the development of new hydropower plants and pumped-storage facilities, as the two sides seek to expand cooperation in renewable energy.
This was reflected in the statement by the Uzbekhydroenergo following a meeting between an Uzbek delegation led by Investment, Industry and Trade Minister Laziz Kudratov and representatives of Adani Group. Azimjon Ahmadjanov, first deputy chairman of Uzbekhydroenergo, also participated in the negotiations in Ahmedabad.
"High-level negotiations were held in Ahmedabad, India, aimed at establishing cooperation with one of the country's largest corporations in the field of hydropower, Adani Group, to implement promising projects in Uzbekistan," was said in the statement.
During the meeting, Adani Group founder Gautam Adani highlighted Uzbekistan's ongoing reforms in the hydropower sector, its investment potential and the conditions being created for foreign investors.
The sides discussed the introduction of modern technologies, construction of new energy facilities and the implementation of mutually beneficial investment projects.
Adani expressed strong interest in investing in prospective projects to build new hydropower plants and pumped-storage hydropower plants in Uzbekistan, according to the Uzbek side.
The projects could contribute to Uzbekistan's efforts to expand its renewable energy capacity, improve the stability of its power system and make more efficient use of renewable energy resources.
The talks also focused on establishing mechanisms for long-term project cooperation and jointly developing investment initiatives in the hydropower sector.
The parties agreed to continue working on prospective projects and develop practical mechanisms for their implementation.
The discussions mark another step in Uzbekistan's efforts to attract international investment and advanced technologies to its renewable energy sector, particularly hydropower and energy storage.
