TASHKENT, Uzbekistan, September 21. A Japanese Hanwa trading company has started the implementation of projects for the introduction of alternative energy in Uzbekistan with the help of $200,000 worth of subsidies from the Ministry of Economy, Trade, and Industry of Japan, Trend reports.
The news followed a recent meeting between Uzbekistan’s Ministry of Economics and Finances, a delegation of a Japan-based Hanwa trading company, and Ernst & Young ShinNihon consulting firm in Uzbekistan’s Tashkent. The participants discussed cooperation for the implementation of a mechanism for co-financing renewable energy projects.
The money for the development of this project is provided under the Joint Credit Mechanism (JCM), the memorandum of which was signed between the parties in October 2022.
The Japanese company plans to implement a pilot project in two medical institutions in the Yakkabag district of Uzbekistan’s Kashkadarya region, installing solar photovoltaic panels and introducing a biofuel heating system.
Earlier this month, the United Nations Development Program (UNDP) in Uzbekistan launched a project for the development of climate-resilient agriculture in the Aral Sea region, which was financially supported by a grant of $2 million allocated by Japan.
The project acts as an interconnected solution to the problems of climate change, food security, economic stability, and the social well-being of the residents of the Aral Sea region.