Foreign investors were invited to take part in the implementation of «green» projects in Turkmenistan


29 October 2022

A call for the participation of foreign investors in the implementation of «green» projects in Turkmenistan was made at the International Forum OGT-2022. This was stated in his speech by the chairman of the board of the State Bank for Foreign Economic Affairs of the country, Rahimberdi Jepbarov, speaking on Thursday at the session «Energy of a new epoch: prospects for internal and regional development».

 Turkmenistan fully shares the concern about the negative impact of industrial emissions into the atmosphere, advocating effective coordination of international efforts to minimize environmental risks and threats, Jepbarov said.

 The head of Bank of Foreign Economic Affairs also emphasized that Turkmenistan is developing cooperation with international organizations in the field of renewable energy sources, energy efficiency, electricity storage and other areas in order to decarbonize the electricity sector.

 In this regard, the speaker noted that Turkmenistan has a serious potential in the field of hydrogen energy, namely: a developed transport network for exports and, most importantly, a raw material base, natural gas and oil reserves. The development of this industry will accelerate the transition to a green economy and increase the country's contribution to achieving the global goal of carbon neutrality.

 To create a hydrogen industry in the country, large financial investments are needed in the infrastructure for production and storage. Turkmenistan is working to attract foreign investment in this process, as well as to open an office for hydrogen energy from the International Renewable Energy Agency, the head of Bank of Foreign Economic Affairs continued.

 Jepbarov named the construction of a plant for the production of environmentally friendly gasoline from natural gas and a gas turbine power plant with a capacity of 432 megawatts as examples of successful cooperation between Turkmenistan and international structures and large technology companies in the field of reducing the carbon footprint. These projects involved loans from the Japan Bank for International Cooperation and other commercial structures, which were financed under the cover of the export credit agency NEKSI.

 In July last year, a loan agreement was signed with the Abu Dhabi Development Fund to finance the construction of a 10 megawatt hybrid solar-wind power plant. Turkmenistan is ready to consider other promising «green» projects that foreign companies can offer, Jepbarov said.