The key facts

  • Aksa Enerji plans to sign agreements within a week on the grids of Tashkent, Syrdarya and Jizzakh regions
  • In Samarkand region the company has managed the grids for 30 years under a PPP model and plans to invest $1 billion
  • Aksa has already invested $750 million in Uzbekistan and built four power plants

Plans for three regions

The Turkish Aksa Elektrik intends to sign agreements within a week on managing the distribution power grids of Tashkent, Syrdarya and Jizzakh regions. Cemil Kazancı, chairman of the board and CEO of Kazancı Holding, announced this in an interview with the Uzbekistan 24 TV channel after a meeting with President Shavkat Mirziyoyev on October 16 on the sidelines of the first meeting of the Investors' Council in the fuel and energy sector. According to him, the company will thus expand to these regions the operations it began in Samarkand. The parameters of the planned agreements and the format of the company's participation in the grids' operations were not disclosed in the interview.

The company's goals

Kazancı explained that Aksa plans to invest in distribution networks to reduce energy losses, lower its cost and improve energy efficiency. “We were presented projects that serve the interests of the population. We will study them on an expedited basis and present our proposals. We want to conclude this visit with precise agreements,” he said. According to him, the meeting with the president clarified the tasks the company has to fulfill. The presidential press service reported that the parties agreed to speed up work on specific projects.

The Samarkand project

Earlier, Aksa won an international tender to manage the distribution power grids of Samarkand region, held with the participation of the International Finance Corporation. Under the contract, the company manages the grids for 30 years under a public-private partnership model and plans to invest $1 billion in modernization. According to the Ministry of Energy, the private partner must invest at least $350 million in the first 10 years; according to the parameters approved by the president in August — a minimum of $27 million in the first two years and ensure a reduction in losses. According to the regional khokimiyat (October 9), $357 million in direct investment must be attracted in the first 12 years. The grids remain state-owned: the Regional Power Grids retain the right to operate the assets free of charge without transferring them into the ownership or disposal of the private partner; according to Kun.uz, the state guarantees the investor income under the contract. The Turkish side has completed an audit of critical sections and developed 440 projects; it is planned to upgrade 1,000 transformers, replace worn-out poles and lines, and the purchase of mobile generators and special equipment is being considered.

Context of Aksa's operations

Aksa Enerji has already invested $750 million in Uzbekistan and built four power plants: two in Tashkent region and one in Bukhara region with a total capacity of 740 MW, and in December 2024 a 400 MW plant was launched in the Nishan district of Kashkadarya region. The company intends to continue its activities in the fields of electricity and gas distribution as well. The transfer of grids to private management was announced by the president in June 2025 at the Tashkent International Investment Forum: it was then reported that in 2026 private operators are planned to be brought in for the grids of 8 more regions. In December, according to Mirziyoyev, the management of the grids of Jizzakh and Syrdarya regions is to be offered to investors in 2026, and those of Namangan and Tashkent regions in 2027.