UAE’s Firm GSU Acquires 51% Of Uzbekistan Solar Developer Yashil Energiya

ABU DHABI, (UrduPoint / Pakistan Point News / WAM - 24th Sep, 2025) Abu Dhabi-based Global South Utilities (GSU) said on Wednesday it completed the acquisition of a 51 percent stake in Uzbekistan’s Yashil Energiya, its first investment in Central Asia and the wider 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 charging and mini hydropower.

The transaction is the first acquisition by an Emirati company of a renewable energy firm in the CIS region. It also marks GSU’s diversification into distributed solar and EV charging, complementing its existing utility-scale projects.

GSU, part of Abu Dhabi’s Resources Investment, said the agreement seeks to strengthen collaboration with Yashil Energiya’s existing shareholders and management in shaping the company’s long-term strategy.

Yashil Energiya operates 50 MW of solar projects in Uzbekistan and is expected to grow its portfolio by tens of megawatts with the new funds provided through this partnership. The deal also gives GSU board representation and was structured as an increase in charter capital, keeping all shareholders in place.

“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,” said Ali Al Shimmari, GSU Managing Director and CEO.

He added, “The UAE’s experience in developing clean power gives us a strong foundation to contribute meaningfully to Uzbekistan’s ambitions.”

Jurabek Mirzamahmudov, Minister of Energy in Uzbekistan and Chairman of Yashil Energiya, said, “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 contribute meaningfully to Uzbekistan’s ambitions, driving faster solar adoption and a more sustainable future for our country.”

Nodirbek Nasretdinov, CEO of Yashil Energiya, said that joining forces with Global South Utilities will deliver more innovative solar solutions, expand access to clean power, and accelerate Uzbekistan’s transition to a greener economy.

The acquisition reflects the deepening of energy and investment ties between the UAE and Uzbekistan, which aims to generate 50 percent of its electricity from renewables by 2030.

The UAE has become Uzbekistan’s top Arab and GCC trade partner, and the two countries continue to expand cooperation in infrastructure and energy transition.