IMPROVING MECHANISMS FOR ATTRACTING INTERNATIONAL INVESTMENT DURING THE TRANSITION TO A GREEN ECONOMY

The transition to a green economy requires investment mechanisms that combine environmental objectives with commercially viable projects and credible institutions. This study examines how competitive procurement, payment guarantees, long-term contracts, and development finance can support international investment, using Uzbekistan’s solar energy sector as an empirical case. The research applies comparative project analysis to three solar projects, examines the disclosed financing structure of the Samarkand–Jizzakh investment package, and conducts an illustrative sensitivity analysis of financing costs. Calculations show that the average awarded electricity tariff for the two subsequent projects was 32.55% below the Navoi benchmark. The Samarkand–Jizzakh package combined USD 193 million in sponsor equity and USD 216 million in development-bank debt, alongside payment guarantees of up to USD 12 million. These findings document the coexistence of competitive tariffs, foreign participation, and coordinated risk mitigation; they do not establish a causal effect of guarantees or procurement reform. The article proposes an integrated investment mechanism linking project preparation, transparent procurement, targeted financial support, grid readiness, and environmental verification. Its principal contribution is a practical framework for evaluating investment attraction through financial closure, fiscal exposure, and verified environmental performance.