Azerbaijan and Uzbekistan are planning major projects”/>
Uzbekistan and Azerbaijan are planning major energy projects.
As Day.Az reports, an informed source told Trend about this.
“An agreement on geological exploration in Ustyurt was signed with the state oil company of Azerbaijan SOCAR, a joint trading company was launched. Work is underway to organize the production of chemical reagents and oil and gas equipment in Uzbekistan ($8.1 million), as well as working on participation in Upstream projects in Azerbaijan.” , said the source.
The agency’s interlocutor noted that it is proposed to begin the study of the generation and sale of solar energy by the industrial enterprise “FAS Energy” (Uzbek-Azerbaijan Investment Company, $150 million), as well as the modernization and reconstruction of 3 substations with a voltage of 110 kV located in the Fergana, Khorezm and Tashkent regions ( “Azenco”, $8 million).
It should be noted that Uzbekistan is actively modernizing and expanding its energy infrastructure. In recent years, large facilities worth $5.9 billion have been commissioned.
Work also continues on 28 projects to create renewable energy sources with a total capacity of 6.3 gigawatts, of which the first 7 projects with a total capacity of 2.6 gigawatts were launched in 2023.
Azerbaijan has significant oil and natural gas reserves, especially on the Caspian Sea shelf. In recent years, Azerbaijan has also been actively investing in the development of renewable energy sources.