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"Uzbekistan's success in green energy extends to all sectors of the economy" - ACWA Power CEO Marco Arcelli

The panel session "Investments in green energy: creating a sustainable future" was held within the framework of the Tashkent International Investment Forum. Uzbekistan used to rely on fossil fuels, with gas accounting for a significant share. But the country's new vector of development has opened the door to green energy. Today we cooperate with leading players and by 2030 Uzbekistan will create 20 gigawatts of renewable energy capacity, bringing its share in the energy balance to 40 per cent," Deputy Minister of Energy Umid Mamadaminov said. The discussion focused on the development of renewable energy in Uzbekistan and Central Asia. The participants discussed various aspects such as investor attraction, infrastructure development, technological innovation, project scalability, the role of climate finance and policy recommendations to stimulate green energy. It has always been important for us to have a clear vision of the state for the development of green energy, as well as readiness for open and constructive dialogue. Decisions are made quickly here. Today we signed an agreement regarding the development of 5 gigawatts of wind power, - said CEO of ACWA Power Marco Arcelli. The speakers shared their vision, experience and plans in this area. Key factors for successful development of renewable energy sources were discussed, including creation of a favorable investment climate, introduction of innovations and strategic partnerships.