Tajikistan has taken a significant step towards enhancing its renewable energy infrastructure by initiating the construction of a solar panel manufacturing plant in the Danghara Free Economic Zone, in collaboration with South Korea. President Emomali Rahmon attended the groundbreaking ceremony for the project.
Tajikistan Boosts Solar Panel Production with Korean Investment
This ambitious $2 billion project, spearheaded by Global Solar Wafer, a leading Korean company, will be implemented in four phases. It is expected to create over 8,000 jobs, contributing to Tajikistan's rapidly growing workforce.
Image: Collected
The Tajik government has allocated 22 hectares of land in the Danghara Free Economic Zone for the construction of the factory. Construction is expected to commence in July 2024, with the first phase scheduled for completion in March 2025. Upon full operation, the plant will have a production capacity of up to 5,000 megawatts of solar panel equipment, reflecting Tajikistan's commitment to a green and sustainable future.
This project aligns with Tajikistan's green economy policy and demonstrates the country's commitment to sustainable development and fostering strong international relations. By 2030, Tajikistan aims to generate between 500 and 1,000 megawatts of green electricity, and collaborative projects like this one will play a crucial role in achieving this goal.
At the ribbon-cutting ceremony, Tajik President Emomali Rahmon hailed the solar panel manufacturing plant as a symbol of the growing economic partnership between Tajikistan and South Korea. He expressed optimism about further expanding bilateral trade relations, which currently stand at $116.1 million, with over 13 Korean companies operating in Tajikistan.
The solar panel initiative marks a significant milestone in Tajikistan's journey towards energy independence and economic growth. It promises a brighter, greener future for generations of Tajiks.
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 by responsibly utilizing natural resources and improving the living standards and social stability of the population.
As part of its commitment to sustainable development, Eshkata Bank became the first bank in Tajikistan to issue a local currency green bond endorsed by the International Finance Corporation. The proceeds from this bond will be used to 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 sets an example for the region. By partnering with South Korea to establish a solar panel manufacturing plant, Tajikistan is advancing its renewable energy goals and paving the way for a sustainable future.
