Talks to construct a 500MW solar PV facility in the Qashqadaryo region are underway between officials from Uzbekistan and Sunview Group, a renewable energy business based in Malaysia.
The $1 billion (RM4.75 billion) factory will be built in less than a year after the formal agreement is signed and will be funded by foreign direct investments.
HP Ong, executive director and CEO of Sunview Group, said: “We are thrilled to announce the collaboration as it underscores Sunview’s commitment to advancing renewable energy initiatives and global sustainability.
“This project will not only open new horizons for Sunview to extend its geographical presence beyond the local market but also accelerate the transition to renewable energy in the Qashqadaryo region”, Ong added. “We are optimistic this partnership will yield a positive outcome for us.”
The capacity of renewable energy sources worldwide increased by 50% in 2023 to 510GW. According to specialists from the International Energy Agency (IEA), solar photovoltaics (PV) accounted for three-quarters of these additions.
Heymi Bahar, senior analyst of renewable energy markets and policy at the IEA, stated in an interview with Energy Monitor, a GlobalData product, that China installed about 220GW of solar PV in 2023—more than the entire globe combined.
By developing the nation’s energy infrastructure, Uzbekistan intends to become less dependent on remittances and energy imports from Russia, which accounted for $17 billion, or 21% of the country’s GDP, in 2022.
The energy company Sunview is situated in Petaling Jaya, Selangor, Malaysia. Significantly more than the previous year (RM99.3m) in revenue, the company reported RM347m in its fiscal year 2023, which ended in March of last year.
Source Sunview
