The key facts

  • Since 2016, $35 billion in investments has been attracted to Uzbekistan's energy sector, with the number of partner countries exceeding 10
  • Six agreements worth $4.7 billion were signed: 3 GW of generation and 400 MW of energy storage
  • By 2030, the goal is 22,000 MW of new capacity and 129 billion kWh of annual generation, 54% of which from 'green' sources

Open dialogue with fuel and energy sector investors

President of Uzbekistan Shavkat Mirziyoyev is holding an open dialogue with fuel and energy sector investors, presidential press secretary Sherzod Asadov reported. The head of state called energy 'the heart of development' and emphasized that a stable energy supply is important both for entrepreneurs' investments and for the population's confidence in tomorrow.

Results of a decade of reforms

According to the president, ten years ago tasks were set to resolve problems in the sector, modernize outdated capacity, and meet growing demand. To this end, the energy market was opened to private investment and public-private partnership mechanisms were introduced. Since 2016, $35 billion in investments has been attracted to the sector, and the number of partner countries has grown from 2–3 to more than 10. The share of solar, wind, and hydroelectric power plants has reached 11.1 GW, and renewable sources account for 31% of total generation. Per capita electricity production has grown by 28% — to 2,300 kWh per year.

New agreements worth $4.7 billion

During the dialogue, six agreements were signed on major projects with a total value of $4.7 billion. They provide for the creation of 3 GW of generating and 400 MW of storage capacity.

Priorities and goals until 2030

Mirziyoyev noted that Uzbekistan has accumulated significant experience in developing energy projects and cooperating with investors. Alongside launching new capacity, improving supply and reducing losses in power grids will now become priority tasks. By 2030, the goal is to create 22,000 MW of new capacity, which will increase annual generation to 129 billion kWh, of which 54% will come from 'green' sources. The president added that the recently signed decree clearly defines the tasks of the state and business in the fuel and energy sector, and at the current stage of project implementation, 'open competition, transparent rules, and precise fulfillment of agreed conditions' will be ensured.