President Holds Dialogue with Investors on Accelerating Reforms in the Energy Sector

The President emphasized that a reliable energy supply is essential for economic growth, business development and improving people’s well-being. Over the past decade, Uzbekistan has opened its energy market to private investment and introduced public-private partnership mechanisms. During this period, the sector has attracted $35 billion in investment. With the expansion of solar, wind and hydropower facilities, renewable energy now accounts for 31 percent of the country’s total electricity generation.

During the meeting, agreements were signed for six major projects worth a combined $4.7 billion. These projects will add 3,000 megawatts of power generation capacity and 400 megawatts of energy storage capacity.

The President noted that Uzbekistan is entering a new phase of investment in its energy sector. Going forward, every project must not only expand generation capacity but also improve the reliability of electricity supply and reduce power losses. By 2030, Uzbekistan aims to add 22,000 megawatts of new generation capacity, increase annual electricity production to more than 129 billion kilowatt-hours, and raise the share of renewable energy to 54 percent.

To achieve these goals, power generation, transmission and energy storage systems will be developed in a coordinated manner. Energy capacity requirements will be assessed in advance for each region, and fully prepared projects will be offered through open competitive tenders. Investors will receive clear information upfront on land allocation, grid connections and electricity purchase terms. Six solar and wind power projects with a combined capacity of 2,200 megawatts will be put out to tender in the near future.

For the first time, Uzbekistan will develop and publish a National Energy Master Plan through 2050. A map showing available grid connection opportunities will be presented by March 1 next year, followed by the complete master plan by July 1. This will provide investors with greater clarity and predictability for long-term project planning.

Particular attention was given to expanding electricity networks and energy storage infrastructure. By 2030, Uzbekistan plans to build 5,000 kilometers of power lines and 16 major substations, while increasing energy storage capacity to 4.5 gigawatts. The President also highlighted the importance of ensuring reliable electricity supplies for industrial enterprises and data centers in anticipation of their growing energy needs.

The discussions also covered expanding private sector participation in electricity distribution networks and modernizing public facilities and pumping stations through energy-efficient technologies. New mechanisms will enable “green” energy producers to generate additional revenue through the sale of certificates and carbon credits.

The Head of State also noted that investment projects must also create new opportunities for domestic industries. Twelve promising projects worth a total of $850 million have been prepared to localize the production of high-voltage equipment, energy storage systems and wind turbine components. Plans are also underway to establish a dedicated industrial zone to manufacture equipment and materials needed for the nuclear power plant under construction in Forish District.

In the oil and gas sector, cooperation will be expanded in geological exploration, improving the efficiency of field development and advanced processing of raw materials. Exploration activities are underway in six investment blocks on the Ustyurt Plateau in partnership with SOCAR and BP, while another 128 blocks have been prepared for potential foreign investors. Plans were also presented for implementing a Methanol-to-Olefins project in Bukhara Region and modernizing the Bukhara and Fergana oil refineries.

Addressing the gradual introduction of market-based mechanisms in the liquefied gas supply system, the President underlined that uninterrupted supply, safety and the quality of services provided to the public must remain top priorities.

The President also proposed expanding investors’ involvement in training specialists for new energy facilities. Beginning next academic year, university enrollment quotas in energy-related fields will be increased, while government grants will support 50 young people annually to study at leading universities abroad.

Investors proposed establishing a permanent dialogue mechanism to address issues related to land allocation, grid connections and obtaining technical approvals. In response, an Energy Sector Investors Council will be established under the leadership of the Head of the Presidential Administration. The Council will work to promptly resolve issues at every stage of project implementation, from initial preparation to the commissioning of facilities.

At the conclusion of the meeting, President Shavkat Mirziyoyev exchanged views with investors, heard their proposals and expressed Uzbekistan’s readiness to continue mutually beneficial cooperation.