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Wednesday, October 4, 2023

Dubai International Chamber of Commerce’s New Horizons initiative successfully connects UAE and Uzbek renewable energy companies


Dubai International Chamber of Commerce, one of three chambers under the Dubai Chamber umbrella, has successfully brought together UAE-based company Imperial Ruby Energy and Innovations and Uzbekistan’s SOLAR NATURE, signing a Memorandum of Understanding (MoU) to develop a Joint cooperation with solar thermal projects in Uzbekistan and the Middle East.

Imperial Ruby Energy and Innovations participated in the Dubai International Chamber of Commerce’s New Horizons Central Asia Roadshow in March 2023. The program aims to drive international expansion of Dubai businesses into selected Central Asian markets, while promoting Dubai as a thriving global investment hub for companies in the region, including Uzbekistan, Kazakhstan and Kyrgyzstan.

According to the Memorandum of Understanding signed in the presence of HE Alisher Salomov, Consul General of Uzbekistan in Dubai and the Northern Emirates, the two companies will join forces in the design and delivery of large and medium-sized solar solutions for the generation of clean energy renewable electricity, as well as cooperation in the use of solar energy for water recycling and seawater desalination projects. The two parties have committed to investing the necessary funds and will focus on expanding the scale of cooperation to more than US$100 million within five years.

Mohammad Ali Rashed Lootah, President and CEO, Dubai Chamber of Commerce, commented: “I am delighted to see our New Horizons initiative and trade mission to Central Asia come to fruition. This MoU is particularly notable as it supports the UAE’s and the country’s renewable energy and sustainable development goals. The agreement also reflects our commitment and strategic approach to promoting private sector projects focused on delivering the energy transition in support of our net zero goal. This involves maximizing increase the share of clean energy, ensure greater efficiency to reduce CO2 emissions from electricity generation, invest in innovative desalination technologies, and foster innovation through research and development in these important areas.

Lootah continued, “Dubai International Chamber of Commerce is committed to supporting its members’ global expansion into global strategic markets and attracting foreign investment and international companies, such as those from Central Asia, to the emirate and promoting Dubai as a global business and trade hub. “

Commenting on the signing of the MoU, Manoj Divakaran, Managing Director and CEO of Imperial Ruby Energy and Innovations, said: “Uzbekistan is on a fast track to implementing an energy transition. There is a lot of room for collaboration, which was further emphasized by the Dubai International Chamber of Commerce during its recent roadshow.”

“At Imperial Ruby Energy and Innovations, we are delighted to partner with Uzbekistan’s leading solar engineering, procurement and construction (EPC) company, SOLAR NATURE, and to support the country’s energy transition journey. Through this partnership, we look forward to sharing our The UAE has developed deep expertise and experience in commercial solar PV installations and architectural solar PV integration into iconic buildings, ultimately leveraging these to have a significant impact in the rapidly growing solar market in Central Asia.”

Farrukh Asralkhodjaev, CEO of SOLAR NATURE, echoed similar sentiments, adding: “This partnership will further strengthen the friendly relationship between our two countries and apply the best practices of Empereal Energy to Uzbekistan. To strengthen cooperation in the field of green technology in the process of China’s energy transition to a sustainable green economy.”

The collaboration aims to provide unique design and technology solutions for the renewable energy market. The parties plan to address the energy transition challenges in their respective markets by investing in commercial and industrial solar projects, water recycling solutions and architectural solar cladding for buildings. The partnership, along with further joint ventures, is expected to be one of the major contributors to the renewable energy and energy transition industry in Central Asia.

Imperial Ruby Energy and Innovations is a design and engineering company specializing in solar photovoltaic systems, building BIPV solutions, solar thermal linear fresnel (CSP) for power generation, process heating, steam enhancement and solar desalination.

SOLAR NATURE specializes in the design and EPCM of solar photovoltaic systems and is one of the leading suppliers in Uzbekistan.


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