TASHKENT, Uzbekistan, August 29. Saudi Arabia's Vision Industries has reached an agreement with the Government of Uzbekistan regarding the production of components used for wind energy systems, Trend reports.
The issue was discussed at the meeting between Deputy Minister of Investment, Industry and Trade of Uzbekistan Oybek Khamrayev and Chief Business Development Officer at Vision Industries Mohamed Bou-Zeid.
Vision Industries, founded in 2021, has a total capacity of 45 GW of alternative energy sources in 13 countries worldwide. Their projects, totaling $5.3 billion, include construction of electricity storage systems, green hydrogen production, and components for wind energy systems.
In particular, the sides agreed on the establishing the production of necessary components for wind energy installations in Uzbekistan.
Meanwhile, this is not the first time that Uzbekistan cooperates with Saudi Arabia's manufacturers in the energy field. Earlier this year, Saudi Arabia's ACWA Power has signed an agreement on the development of a $88 million worth green hydrogen project in Uzbekistan. Currently, the company's investment portfolio in Uzbekistan includes 8 projects with a total value exceeding $6.8 billion and a projected capacity of over 5.5 GW.