Written by: Salma Al-Saqqa
Oman's Voltamp intends to expand its international operations as it is currently exploring promising investment opportunities in the Republic of Uzbekistan, including the potential development of solar power plants and the manufacturing of advanced electrical equipment. This step comes as part of the company's efforts to strengthen its presence in Central Asian markets, capitalizing on Uzbekistan's ambitious plans to develop the electricity sector and transition toward sustainable energy sources.
Details of Investment Discussions
Voltamp Energy has held preliminary discussions with government entities in Uzbekistan to explore prospects for cooperation in energy projects and electrical industries. The official visit by company representatives witnessed a high-level meeting between the President of Uzbekistan, Shavkat Mirziyoyev, and the Chairman of Voltamp Energy, Ayman bin Hamad Al-Busaidi. Discussions covered the possibility of establishing high-voltage electrical transformer manufacturing facilities and developing new solar energy projects, according to a roadmap aimed at enhancing the country's electrical infrastructure.
The Omani company confirmed that these discussions fall within its external expansion strategy, noting at the same time that negotiations are still in their initial stages and no legal commitments or final agreements have been reached up to this moment, as both parties remain in the joint projects feasibility study phase.
Voltamp's Regional Expertise
Voltamp has a rich history in the electrical industries and renewable energy sector, having commenced operations in 1987. The company has cemented its position by executing qualitative projects, such as supplying electrical transformers for the Amin solar energy project and the Dhofar wind power project in the Sultanate of Oman. Its expertise has also extended to the Saudi market, where it contributed by supplying hundreds of transformers for the Sudair solar energy project, which is considered one of the largest clean energy projects in the region, thereby enhancing its competitive capability should it enter the Uzbek market.
Uzbekistan's Energy Ambitions
Uzbekistan has set an ambitious strategy aimed at raising the share of renewable energy in the electricity generation mix to 54% by 2030. The country seeks to add 22,000 megawatts of new generation capacities and significantly increase its annual electricity production to meet growing demand. Tashkent is working to attract foreign investments to develop new solar and wind energy projects and upgrade electricity transmission grids, which opens wide horizons for regional companies to participate in this developmental renaissance, following the experiences of other Arab companies that have successfully entered the Uzbek market.
