UAE’s GSU Buys 51% Stake in Uzbekistan Solar Firm

Abu Dhabi-based Global South Utilities (GSU) has completed the acquisition of a 51 percent stake in Uzbekistan’s renewable energy firm, Yashil Energiya, marking 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 and is expanding into electric vehicle (EV) charging and mini hydropower. The acquisition is the first by an Emirati company in the CIS renewable energy sector and represents GSU’s strategic move into distributed solar and EV infrastructure.

Under the deal, GSU gains board representation and will contribute funds to expand Yashil Energiya’s solar portfolio, which currently stands at 50 MW. The transaction was structured as an increase in charter capital, maintaining all existing shareholders.

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

Jurabek Mirzamahmudov, Minister of Energy in Uzbekistan and Chairman of Yashil Energiya, added, “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 the partnership will deliver more innovative solar solutions, expand access to clean power, and accelerate Uzbekistan’s transition to a greener economy.

The deal highlights growing energy and investment ties between the UAE and Uzbekistan. Uzbekistan aims to generate 50 percent of its electricity from renewable sources by 2030. The UAE is currently Uzbekistan’s top Arab and GCC trade partner, and both countries continue to deepen cooperation in infrastructure and energy transition.