Uzbekhydroenergo to Direct Nearly US$265 Million Toward Hydropower Development in 2026

Tashkent, Uzbekistan (UzDaily.com) — JSC Uzbekhydroenergo plans to invest 264.41 million dollars under its 2026 investment program — 12% more than the previous year. The total value of projects currently being implemented stands at approximately 2.97 billion dollars.

Financing is split between the company's own funds of 135.41 million dollars and foreign loans totaling 129 million dollars, of which 109.1 million is being attracted in the form of direct foreign investment and 19.9 million under state guarantee.

The strategic project portfolio comprises eight facilities with a combined capacity of 1,504.8 MW and average annual output of 4,918.9 million kWh. The largest by capacity will be the Upper Pskem pumped-storage hydropower plant at 600 MW with average annual production of 1,080 million kWh, scheduled for commissioning by 2028.

Construction of the Pskem hydropower plant on the Pskem River, with a capacity of 248 MW and annual output of 585 million kWh, and the Narin hydropower cascade at 228 MW with annual output of 1,025.4 million kWh, is planned for completion by 2030 and 2028 respectively.

Modernization projects at existing facilities are also being carried out in parallel. The upgrade of the Lower Bozsu hydropower cascade is set for completion in 2027, as is the modernization of the Shakhrikhan hydropower cascade. Construction of the Mullalak hydropower plant at 140 MW with annual output of 396 million kWh and the Kishtut hydropower cascade on the Topalang River at 80 MW with annual output of 276 million kWh is expected to be completed by 2028 and 2029 respectively.