Uzbekistan aims to boost its electricity generation from 82 billion to over 120 billion kilowatt-hours within five years, marking a significant investment opportunity in the power sector. This goal is driven by increased industrial demand, population growth, and new sectors like digital infrastructure.
At the Tashkent International Investment Forum, President Shavkat Mirziyoyev announced that renewable energy is expected to constitute 54% of electricity generation by 2030, with nearly $6 billion already invested in green energy projects and plans for an additional $4 billion in transmission networks. He emphasized the need for investments in solar and wind energy, energy storage, grid modernization, and green-powered data centers.
International financial institutions, notably the European Bank for Reconstruction and Development (EBRD), are actively involved, having invested nearly $2 billion in the region, including substantial funding in Uzbekistan. EBRD’s focus is largely on renewable energy and sustainable infrastructure to reduce reliance on fossil fuels, with ongoing projects highlighting solar generation and battery storage.
As Uzbekistan advances its energy strategy, it also incorporates nuclear energy, beginning construction on its first nuclear power project, which includes large and small reactors to enhance low-carbon capacity. This diversification reflects the country’s aim to shift from a heavy dependence on natural gas, which currently accounts for 75% of its electricity generation.
