Tashkent, Uzbekistan (UzDaily.com) — Uzbekhydroenergo has made its first export of green energy certificates through the Uzbekistan Commodity Exchange (UZEX), according to the exchange's press service.

On 11 February, a total of 301 certificates were sold for export in the "Green Energy Section" of the exchange. In 2024, more than 64,300 green certificates have been sold through the platform, amounting to over 875.9 million soums, with an average price of 13,600 soums per certificate.

Uzbekhydroenergo acts as the seller of these certificates, each of which confirms the generation of 1,000 kWh of electricity from renewable sources. Both individual entrepreneurs and local or foreign companies can participate in the trading process.

The introduction of the green certificate system was part of the government's 2023 program, recommending their acquisition for enterprises that derive at least 30% of their energy from clean sources.

Sales of green certificates began in July 2023, and Uzbekhydroenergo aims to issue and trade up to 7 million certificates annually. Revenues from certificate sales are exempt from corporate income tax, following amendments to Uzbekistan's Tax Code approved by the president in February 2024.