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Uzbekistan plans to increase electricity generation from 82 billion kilowatt-hours to more than 120 billion kilowatt-hours within the next five years, turning the power sector into one of the country’s biggest investment tests. <\/p>\n
The target reflects rising demand from industry, population growth and the development of new sectors, including digital infrastructure, as Uzbekistan seeks to expand electricity supply while reducing reliance on fossil fuels. <\/p>\n
Speaking at the Tashkent International Investment Forum (TIIF), President Shavkat Mirziyoyev said renewable energy is expected to account for 54% of electricity generation by 2030. He said the country had already attracted nearly $6 billion (\u20ac5.3 billion) in foreign investment into green energy projects and plans to invest a further $4 billion (\u20ac3.5 billion) in electricity transmission networks. <\/p>\n
Mirziyoyev also called for investment in solar and wind power plants, energy storage systems, grid modernisation and data centres powered by green energy, linking the country’s electricity plans to its broader industrial and digital agenda. <\/p>\n
International financial institutions are already helping to finance that expansion. <\/p>\n
In 2025, the European Bank for Reconstruction and Development (EBRD) invested almost $2 billion (\u20ac1.8 billion) across 120 projects in Central Asia and Mongolia. More than $1 billion (\u20ac880 million) of that total went to projects in Uzbekistan. <\/p>\n
More than half of the EBRD’s regional investments were classified as green, while around one-third supported sustainable infrastructure projects. <\/p>\n
In Uzbekistan, EBRD financing has included large-scale renewable energy and storage projects. These include a $142 million (\u20ac125 million) package for a combined 1GW solar photovoltaic and 1,336MWh battery energy storage plant developed with ACWA Power. <\/p>\n
The bank also arranged financing of up to $195.5 million (\u20ac171 million) for a 300MW solar plant and 75MWh battery storage facility developed by Masdar in the Kashkadarya region. <\/p>\n
In an interview with Euronews on the sidelines of TIIF, Huseyin Ozhan, the EBRD’s Managing Director for Central Asia and Mongolia, said increasing energy capacity requires both financing and regulatory reform. <\/p>\n
“We need to look at it from two angles. Number one, investments. And number two, policy engagement,” Ozhan said. <\/p>\n
According to Ozhan, governments across the region have adopted long-term decarbonisation strategies, with international financial institutions helping to develop roadmaps and sector-specific plans designed to reduce dependence on fossil fuels. <\/p>\n<\/p><\/div>\n