One of the three chambers that operate under the Dubai Chambers, the Dubai International Chamber, has successfully united a UAE-based company named Empereal Ruby Energy and Innovations and SOLAR NATURE of Uzbekistan to ink a Memorandum of Understanding (MoU) for joint collaboration on solar photovoltaic and solar thermal projects in the Middle East and Uzbekistan.
In March 2023, Empereal Ruby Energy and Innovations took part in the Dubai International Chamber’s New Horizons Central Asia roadshows. The program aims to promote Dubai as a thriving global investment destination for companies from the area, particularly Uzbekistan, Kazakhstan, and Kyrgyzstan, while simultaneously driving the international development of Dubai corporations into chosen Central Asian markets.
The agreement, signed in the presence of H.E. Alisher Salomov, Consul-General of Uzbekistan in Dubai and the Northern Emirates, will see the two companies collaborate in developing and supplying medium- to large-scale solar solutions for clean, renewable electricity in a five-year collaboration worth more than US$100 million. They also agreed to partner on solar energy initiatives for water recycling and desalination.
Mohammad Ali Rashed Lootah, President and CEO of Dubai Chambers, expressed his delight at the success of their New Horizons project and trade mission to Central Asia. This MoU is important because it supports the UAE’s efforts ahead of COP28 as well as the country’s renewable energy and environmental goals. The deal also illustrates their commitment and strategic method for boosting private sector projects that focus on allowing the energy transition to achieve its net zero aspirations. This includes increasing the share of renewable energy sources, improving efficiency to minimize CO2 emissions from electricity generation, investing in breakthrough water desalination technologies, and encouraging innovation through research and development in these critical areas.
Lootah went on to say that the Dubai International Chamber is committed to assisting its members in expanding globally into strategic markets around the world, attracting foreign investments and international companies such as those from Central Asia to the emirate, and enhancing the reputation of Dubai as a global business and trade hub.
Manoj Divakaran, Managing Director and CEO of Empereal Ruby Energy and Innovations, commented on the signing of the MoU that Uzbekistan is on a fast track to implement its energy transition. To that end, there is significant potential for collaboration between the UAE and Uzbekistan in the renewable energy industry, as highlighted by the Dubai International Chamber’s recent roadshow.
Farrukh Asralkhodjaev, CEO of SOLAR NATURE, noted that this agreement would improve the two nations’ cordial relations and implement the best practices of Empereal Energy in Uzbekistan, assisting the country’s transition to a sustainable green economy.
The collaboration intends to deliver one-of-a-kind design and technical solutions for the renewable energy market. Through investments in commercial and industrial solar energy projects, water recycling systems, and architectural solar cladding of buildings, the two parties intend to address energy transition concerns in their respective sectors. The partnership, together with further joint ventures, is expected to establish itself as one of Central Asia’s key contributors to the renewable energy and energy transition sectors.
