Tajikistan has taken a significant step toward enhancing its renewable energy infrastructure, beginning construction on a solar panel manufacturing plant in the Danghara Free Economic Zone in partnership with South Korea. President Emomali Rahmon attended the project’s groundbreaking ceremony.
Tajikistan Boosts Solar Panel Production with Korean Investment
Spearheaded by leading Korean company Global Solar Wafer, this ambitious $2 billion project will unfold in four phases. The plant is expected to create over 8,000 jobs, bolstering Tajikistan’s rapidly growing workforce.
Image: Collected
The Tajik government has allocated 22 hectares of land for the factory in the Danghara Free Economic Zone. Construction is set to begin in July 2024, with the first phase scheduled for completion by March 2025. Once fully operational, the plant will have a production capacity of up to 5,000 megawatts of solar panel equipment, underscoring Tajikistan’s commitment to a green and sustainable future.
This project aligns with Tajikistan’s green economy policy, supporting its goals for sustainable development and stronger international relations. The country aims to generate between 500 and 1,000 megawatts of green electricity by 2030, and collaborative projects like this are crucial to achieving that target.
At the groundbreaking ceremony, President Emomali Rahmon hailed the solar panel plant as a symbol of the growing economic partnership between Tajikistan and South Korea. He also expressed optimism about expanding bilateral trade, which currently stands at $116.1 million, noting that more than 13 Korean companies already operate in Tajikistan.
The solar panel initiative marks a major milestone in Tajikistan’s journey toward energy independence and economic growth, promising a brighter, greener future for its people.
Tajikistan’s Green Economy Vision
Tajikistan, a landlocked Central Asian nation, has adopted a Green Economy Development Strategy for 2023-2037. This strategic plan aims to achieve sustainable economic development through the responsible use of natural resources while improving living standards and social stability for its population.
As part of its commitment to sustainable development, Eshkata Bank became the first in Tajikistan to issue a local currency green bond, endorsed by the International Finance Corporation. The proceeds will finance climate-smart projects for micro, small, and medium enterprises (MSMEs), stimulating economic activity even during low-production periods. This initiative positions Tajikistan as a leader in green finance and contributes to a more sustainable future.
Tajikistan’s forward-thinking approach to green finance is setting an example for the region. By partnering with South Korea to establish the solar panel manufacturing plant, the country is advancing its renewable energy goals and paving the way for a sustainable future.
