Uzbekistan plans to extend electrical energy technology from 82 billion kilowatt hours to greater than 120 billion kilowatt hours throughout the subsequent 5 years, making the ability sector one of many nation’s greatest funding checks.
This aim displays rising industrial demand, inhabitants progress and the event of latest sectors, together with digital infrastructure, as Uzbekistan seeks to develop its electrical energy provide whereas decreasing its dependence on fossil fuels.
Talking on the Tashkent Worldwide Funding Discussion board (TIIF), President Shavkat Mirziyoyev stated that by 2030, renewable power is anticipated to account for 54% of electrical energy technology. The nation has already attracted round $6 billion (5.3 billion euros) in overseas funding in inexperienced power initiatives and stated it plans to speculate an extra $4 billion (3.5 billion euros) in its electrical energy grid.
Mirziyoyev additionally known as for funding in photo voltaic and wind farms, power storage methods, grid modernization and knowledge facilities powered by inexperienced power, linking the nation’s energy plan to the broader industrial and digital agenda.
Constructing a funding roadmap
Worldwide monetary establishments are already serving to to finance its enlargement.
In 2025, the European Financial institution for Reconstruction and Growth (EBRD) invested roughly $2 billion (1.8 billion euros) in 120 initiatives in Central Asia and Mongolia. Greater than $1 billion (€880 million) of this was spent on initiatives in Uzbekistan.
Greater than half of the EBRD’s regional investments had been labeled as inexperienced investments, and round one-third supported sustainable infrastructure initiatives.
In Uzbekistan, EBRD financing contains large-scale renewable power and storage initiatives. These embrace a $142 million (€125 million) package deal developed with ACWA Energy that mixes 1 GW of photo voltaic PV and a 1,336 MWh battery power storage plant.
The financial institution additionally organized financing of as much as $195.5 million (€171 million) for a 300 MW solar energy plant and 75 MWh battery storage facility developed by Masdar within the Qashqadariya area.
In an interview with Euronews on the sidelines of TIIF, Hussein Ozan, EBRD’s managing director for Central Asia and Mongolia, stated rising power capability requires each financing and regulatory reform.
“We have to take a look at this from two angles. The primary is funding, and the second is coverage engagement,” Ozan stated.
Ozan stated governments within the area are adopting long-term decarbonization methods, and worldwide monetary establishments are serving to develop roadmaps and sectoral plans to cut back dependence on fossil fuels.
“Most international locations in Central Asia have already dedicated to full decarbonization in 2050 or 2060,” he stated. “These selections have long-term decarbonization plans and roadmaps.”
As a part of these efforts, the EBRD can also be collaborating with Uzbekistan on a path to a low-carbon power sector.
Renewable power from targets to initiatives
For the EBRD, renewable power stays a key funding route to cut back the area’s dependence on fossil gas infrastructure.
Central Asian international locations proceed to rely closely on fossil fuels, particularly via getting old electrical energy and heating methods, Ozan stated. On the similar time, the federal government is increasing renewable power initiatives whereas updating rules aimed toward supporting non-public funding.
“If I needed to sum up how we work in a single phrase, it might be renewable power,” Ozan instructed Euronews.
In Uzbekistan, that method is already being seen in initiatives that mix solar energy and battery storage, displaying how financing is transferring past simply new energy vegetation to methods that may soak up extra renewable energy.
For buyers, this shift will make renewable power a part of a broader infrastructure, with technology capability, storage, grid connectivity and regulation all having to maneuver ahead collectively.
Nuclear energy joins the power combine
Renewable power is on the coronary heart of Uzbekistan’s energy enlargement plans, however it’s not the one know-how being added to the nation’s power system.
In June, Uzbekistan started building of its first nuclear energy venture within the Jizakh area, transferring a brand new a part of its energy enlargement plan from planning to implementation.
The deliberate energy plant will embrace two massive reactors of roughly 1,000 MW every and two smaller modular reactors of roughly 55 MW every, including a brand new supply of low-carbon baseload capability to the nation’s future energy combine.
In a separate interview with Euronews on the sidelines of TIIF, World Nuclear Affiliation Director-Basic Sama Bilbao y León stated Uzbekistan’s determination displays a broader development amongst rising economies searching for dependable sources of electrical energy to assist their growth.
“These international locations have enormous sources, however they need to develop and develop, and for that they want power,” she stated.
The Bilbao y León newspaper stated Uzbekistan’s nuclear energy plan displays each the nation’s rising demand for electrical energy and the nation’s need to cut back the share of pure fuel in energy technology.
“Within the case of Uzbekistan, the nation will get 75% of its electrical energy from pure fuel and desires to make use of that pure fuel for different makes use of. That is the place nuclear energy will play a vital position,” she stated.
