Global South Utilities snaps up majority stake in Uzbek renewables player Yashil Energiya

GSU enters Central Asia with majority acquisition: Abu Dhabi-based Global South Utilities (GSU) has acquired a 51% stake in Uzbek solar project developer Yashil Energiya, state news agency Wam reports. The move marks GSU’s first foray into the Commonwealth of Independent States region.

About the company: Established under a presidential decree in 2023, Yashil Energiya currently develops solar projects for commercial and industrial use, with plans to expand into the small hydropower and EV charging sectors. Its portfolio — currently at 50 MW in Uzbekistan — is set to grow by tens of MW thanks to funds from the acquisition.

Background: GSU’s ongoing international portfolio includes expanding a solar plant and commissioning another in Yemen, developing a USD 220 mn solar project in Egypt, and building a 50 MW solar plant with battery storage capacity in Madagascar.