BAKU, Azerbaijan, June 17. The partnership of
export credit agencies, multilateral development banks, and private
investors is becoming a key factor in financing the energy
transition and infrastructure projects in the member countries of
the Islamic Development Bank (IsDB), Yuichiro Akita, President of
the Berne Union and head of the Japanese export credit agency NEXI,
stated at a panel session during the 14th Private Sector Forum of
the IsDB Group, Trend's correspondent reports from the event.


"Together with ICIEC, we have already formed a sustainable
project portfolio. We have several large deals in the energy
sector, primarily in gas generation projects implemented in various
member countries of the organization," Akita said.


According to him, cooperation is also actively developing in the
field of renewable energy.


"Last year, together with the Islamic Development Bank, we
supported our first joint renewable energy project in Central
Asia—a solar power plant with an energy storage system in
Uzbekistan," he noted.


Akita announced that the project, implemented with the
participation of ACWA Power and Japanese investors, provides for
the creation of 1,000 MW of solar generation and an energy storage
system with a capacity of 1,336 MWh.


"This is one of the largest projects of its kind," he
emphasized.


According to the head of the Berne Union, the experience of
implementing such projects confirms the need for a pragmatic
approach to the energy transition.







"We recognize the important role of natural gas as a transition
fuel, while simultaneously accelerating investments in renewable
energy sources. The approach must take into account the specifics
of each country," Akita said.


He also noted that international partnership makes it possible
to attract private capital to large-scale infrastructure
projects.


"Japanese companies are investing alongside investors from OIC
countries, such as ACWA Power. NEXI, through political risk
insurance, co-financing with the IsDB, and reinsurance and
co-insurance mechanisms with ICIEC, helps mobilize private capital
to implement these projects," Akita stated.


According to Akita, cooperation is already moving beyond
supporting individual Japanese companies.


"Our interaction contributes to regional integration,
infrastructure development, and broader economic growth in the
member countries of the Islamic Development Bank," the head of the
Berne Union emphasized.