Abu Dhabi-based Global South Utilities (GSU) has completed the acquisition of a 51 percent stake in Uzbekistan’s Yashil Energiya, marking the Emirati firm’s first investment in Central Asia and the broader Commonwealth of Independent States (CIS).
Yashil Energiya is a vertically integrated developer of commercial and industrial distributed solar projects in Uzbekistan and is also expanding into electric vehicle (EV) charging and mini hydropower. The deal represents the first acquisition of a renewable energy company in the CIS region by an Emirati firm and signals GSU’s diversification into distributed solar and EV charging, complementing its existing utility-scale projects.
The transaction, structured as an increase in charter capital, retains all existing shareholders while granting GSU board representation. Yashil Energiya currently operates 50 MW of solar projects in Uzbekistan, with plans to expand its portfolio by tens of megawatts using the new investment.
Ali Al Shimmari, GSU Managing Director and CEO, said, “Our entry into Uzbekistan is about building long-term partnerships that align with the country’s renewable energy goals. Yashil Energiya has proven capabilities in distributed solar, and together we will deliver projects that support businesses, communities and the wider energy transition. The UAE’s experience in developing clean power gives us a strong foundation to contribute meaningfully to Uzbekistan’s ambitions.”
Jurabek Mirzamahmudov, Uzbekistan’s Minister of Energy and Chairman of Yashil Energiya, added, “Partnering with Global South Utilities marks an important step forward for Yashil Energiya and Uzbekistan’s clean energy ambitions. By combining international expertise with local strengths, we are laying a solid foundation to drive faster solar adoption and a more sustainable future for our country.”
Nodirbek Nasretdinov, CEO of Yashil Energiya, highlighted that the partnership will “deliver more innovative solar solutions, expand access to clean power, and accelerate Uzbekistan’s transition to a greener economy.”
The acquisition reflects growing energy and investment ties between the UAE and Uzbekistan, which aims to generate 50 percent of its electricity from renewable sources by 2030. The UAE has emerged as Uzbekistan’s top trade partner among Arab and GCC countries, with both nations continuing to expand collaboration in infrastructure and energy transition.
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