Abu Dhabi’s GSU buys majority stake in Uzbek solar firm

Abu Dhabi-based Global South Utilities (GSU) has made a landmark entry into Central Asia with the acquisition of a majority stake in Uzbekistan’s Yashil Energiya, marking the first-ever Emirati acquisition of a renewable energy company in the Commonwealth of Independent States (CIS).

- Issac John [e-mail]

The 51 per cent stake purchase underscores the UAE's rising role as a global investor in clean energy and reflects its deepening strategic ties with Uzbekistan, a country seeking to generate half of its electricity from renewables by 2030.

Yashil Energiya is a vertically integrated developer of commercial and industrial distributed solar projects in Uzbekistan and is also diversifying into electric vehicle charging and mini hydropower. With 50 megawatts of operational solar assets and an ambitious growth pipeline, the company provides GSU with an immediate foothold in one of the region's most promising renewable markets.

The deal, structured as an increase in charter capital, ensures existing shareholders remain engaged while GSU gains board representation to help shape future strategy.

GSU, part of Abu Dhabi's Resources Investment, said the acquisition is not only about expanding geographical reach but also about diversifying into distributed solar and EV charging-segments that complement its existing portfolio of utility-scale projects across Africa and Asia.