Malaysia-based renewable energy company Sunview Group is in talks with officials from Uzbekistan to build a 500MW solar PV plant in the Qashqadaryo region.

The plant, worth $1bn (RM4.75bn), will be financed through foreign direct investments and completed within one year from the signing of the official agreement.

HP Ong, executive director and CEO of Sunview Group, said: “We are thrilled to announce the collaboration as it underscores Sunview’s commitment to advancing renewable energy initiatives and global sustainability.

“This project will not only open new horizons for Sunview to extend its geographical presence beyond the local market but also accelerate the transition to renewable energy in the Qashqadaryo region”, Ong added. “We are optimistic this partnership will yield a positive outcome for us.”

Global renewables capacity grew by 50% in 2023, reaching 510GW, with experts from the International Energy Agency (IEA) saying solar PV accounted for three-quarters of the additions. In an interview with Energy Monitor – a GlobalData publication – Heymi Bahar, senior analyst of renewable energy markets and policy for the IEA, noted China alone installed around 220GW of solar PV in 2023 – the same as the rest of the world combined.

Uzbek authorities hope that by expanding the country’s energy infrastructure, it will depend less on energy imports from Russia and remittances, which in 2022 amounted to $17bn, or 21% of gross domestic product.

Sunview is a Malaysian energy company based in Petaling Jaya, Selangor. In fiscal year 2023, ending in March last year, the company reported revenues of RM347m, significantly more than in the previous year (RM99.3m).