BAKU, Azerbaijan, Dec. 3
By Klavdiya Romakayeva - Trend:
The Ministry of Energy of Uzbekistan expressed interest in the experience of the Rothschild & Co financial holding company in the privatization process, Trend reports referring to the press service of the Ministry.
Minister of Energy of Uzbekistan Alisher Sultanov and Managing Director of Rothschild & Cie Bank, member of the Supervisory Board of Rothschild & Co Baroness Ariel Mollard de Rothschild discussed ongoing reforms in the oil and gas and electric power industries of Uzbekistan with the aim of creating a single energy market.
Particular attention was paid to the strategy of Uzbekistan to increase the share of generation based on the use of renewable energy sources (RES) by 2030 to 10 GW and traditional generation - by three times.
The ministry noted that electricity generation will continue to develop on the basis of the principles of public-private partnership (PPP) through foreign direct investment.
“Rothschild & Cie has significant international experience in providing consulting services for renewable energy projects, as well as issuing bonds within these projects, transforming large companies and entering an IPO (initial public offering - the process of offering shares of a private corporation to the public in a new stock issuance),” Rothschild stressed.
According to the information, in order to enter an IPO, any company goes through numerous regulatory procedures, which allows it to become more transparent and well-documented.
“Thus, the company becomes more attractive to investors, its financial stability grows, which is of great interest for the country's energy companies and their successful functioning,” the statement says.
Following the meeting, the parties reached an agreement to work out the possibility of cooperation in the field of continuing the reform of Uzbekneftegaz JSC, Uztransgaz JSC, and Khududgaztaminot JSC, providing consulting services in this direction with subsequent IPO.
---
Follow the author on Twitter: @romakayeva