Dubai International Chamber, one of the three chambers operating under Dubai Chambers, has brought together UAE-based company Empereal Ruby Energy and Innovations, and Uzbekistan’s SOLAR NATURE to sign a Memorandum of Understanding for joint cooperation on solar photovoltaic and solar thermal projects in Uzbekistan and the Middle East.
Empereal Ruby Energy and Innovations participated in Dubai International Chamber's New Horizons Central Asia roadshows in March 2023.
The programme aimed to drive the international expansion of Dubai businesses into select Central Asian markets while also promoting Dubai as a thriving global investment hub for companies from the region including Uzbekistan, Kazakhstan, and Kyrgyzstan.
US$100 mn investments over five years
Under the terms of the MoU, which was signed in the presence of Alisher Salomov, Consul-General of Uzbekistan in Dubai, the two companies will join hands in designing and providing medium to large-scale solar solutions for generating clean renewable electricity, as well as collaborating on projects to use solar energy for water recycling and desalination.
Both parties have committed to investing the necessary funds and will focus their efforts to grow the cooperation to more than US$100 million over a five-year period.
Mohammad Ali Rashed Lootah, President & CEO of Dubai Chambers, commented,
“The MoU supports the UAE’s efforts ahead of COP28 and the nation’s renewable energy and sustainability ambitions. The agreement also reflects our commitment and strategic approach to boosting private sector projects that focus on enabling the energy transition to support our net zero goals. This involves maximising the share of clean energy sources and ensuring greater efficiency to reduce CO2 emissions from power generation, investing in innovative water desalination technologies, and fostering innovation through Research & Development in these vital areas.
Large scope for renewable energy cooperation
Commenting on the signing of the MoU, Manoj Divakaran, Managing Director and CEO of Empereal Ruby Energy and Innovations, said,
“Uzbekistan is embarking on a rapid path for implementing its energy transition. To support this, there is a large scope for cooperation between the UAE and Uzbekistan within the renewable energy sector, and this was further emphasised over the course of the recent roadshow by the Dubai International Chamber.”
"At Empereal Ruby Energy and Innovations, we are excited to partner with SOLAR NATURE, the leading solar energy engineering, procurement, and construction (EPC) company in Uzbekistan, and support the country in its energy transition journey.”
Sharing similar sentiments, Farrukh Asralkhodjaev, CEO of SOLAR NATURE, said,
“This partnership will further strengthen the friendly relations between our two countries and apply the best practices of Empereal Energy in Uzbekistan. It will also enhance cooperation in the field of green technologies during the energy transition of the country towards a sustainable green economy.”
Addressing energy transition challenges
The cooperation aims to provide unique design and technical solutions for the renewable energy market. The two parties plan to address energy transition challenges in their respective markets through investments in commercial and industrial solar energy projects, water recycling solutions, and architectural solar cladding of buildings.
The partnership, together with further joint ventures, is expected to emerge as one of the leading contributors to the renewable energy and energy transition sectors in Central Asia.
Empereal Ruby Energy and Innovations is a design and engineering company focusing on research and development, IP ownership, and the design and EPCM (Engineering, Procurement, Construction, and operations Management) of solar photovoltaic systems, architectural BIPV solutions, solar thermal Linear Fresnel (CSP) for power production, process heat, steam augmentation, and solar desalination.
SOLAR NATURE specialises in the design and EPCM of Solar Photovoltaic systems and is among the leading suppliers in Uzbekistan.
News Source: Emirates News Agency