Tashkent, Uzbekistan (UzDaily.com) -- Uzbekistan has approved the regulations for auction trading as part of the implementation of investment projects on the terms of public-private partnership (PPP) in the field of electricity generation based on renewable energy sources (RES).

The need to introduce an auction trading mechanism to lower the starting price as part of the implementation of RES investment projects on PPP terms is primarily due to the economic interests of the republic.

This competitive selection mechanism is aimed at digitalizing the selection process and minimizing the human factor in making the final decision, keeping in mind the elimination of corruption factors, which ultimately will lead to the receipt of the most minimal tariffs for renewable energy.

According to the assessment of the International Renewable Energy Agency (IRENA), more than 100 countries in the world have introduced an online auction mechanism to implement renewable energy projects. Over the period 2010-2018, following the auction results, the average prices for electricity from solar PV plants decreased by 74%, and onshore wind power plants by 30%, which in turn contributed to the refusal of subsidizing large renewable energy facilities at the expense of "green tariffs" (the state budget) ...

According to the International Energy Agency (IEA), in 2012-2017, based on the auction, the winners for the implementation of renewable energy projects with a total capacity of 152 GW were determined, and in 2018-2023 this figure will be about 500 GW.