Global South Utilities (GSU), an Abu Dhabi-based energy company, announced it has finalised the acquisition of a 51% stake in Uzbekistan’s Yashil Energiya, making its first entry into Central Asia and the wider CIS region.
Expanding beyond utility-scale projects
Yashil Energiya develops commercial and industrial distributed solar projects and is diversifying into electric vehicle charging and mini hydropower. This deal represents the first time an Emirati company has acquired a renewable energy firm in the CIS, and signals GSU’s expansion into distributed solar and EV charging alongside its utility-scale operations.
The investment was structured as an increase in charter capital, ensuring all existing shareholders remain in place. The agreement also gives GSU board representation and aims to deepen cooperation with Yashil Energiya’s management in shaping long-term growth. Currently operating 50 MW of solar capacity, Yashil Energiya plans to expand its portfolio by several tens of megawatts with new funding from the partnership.
Strengthening Uzbekistan’s clean energy ambitions
Ali Al Shimmari, GSU’s Managing Director and CEO, said the company’s move reflects a commitment to long-term partnerships:
«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.»
He added that the UAE’s experience in developing clean power provides a strong platform for contributing to Uzbekistan’s renewable ambitions.
Jurabek Mirzamahmudov, Uzbekistan’s Energy Minister and Chairman of Yashil Energiya, called the partnership a milestone for the country’s energy transition:
«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.»
Yashil Energiya CEO Nodirbek Nasretdinov noted that the deal would deliver more innovative solar solutions, expand access to clean energy, and accelerate the shift towards a greener economy.
