Tashkent, Uzbekistan (UzDaily.uz) — Uzbekistan has signed agreements for six major projects in the fuel and energy sector worth a total of US$4.7 billion. The projects provide for the development of 3,000 MW of power generation capacity and 400 MW of energy storage capacity. The agreements were signed during President Shavkat Mirziyoyev’s open dialogue with investors, focused on accelerating reforms and improving the energy sector’s investment appeal.
The meeting also identified new areas of cooperation with foreign and domestic investors, including renewable energy development, electricity grid modernisation, localisation of equipment manufacturing and expansion of projects in the oil and gas sector.
Projects for six solar and wind power plants with a combined capacity of 2,200 MW are expected to be put out to open tenders in the near future. To improve transparency, investors will be provided in advance with information on land allocation, grid connections and electricity procurement conditions.
The sides also discussed the development of energy transmission and storage infrastructure. By 2030, Uzbekistan plans to build 5,000 km of power lines and 16 major substations, while increasing energy storage capacity to 4.5 GW.
In the industrial sector, 12 prospective projects worth a total of US$850 million have been prepared. They provide for the localisation of high-voltage equipment, energy storage systems and components for wind turbines. A special industrial zone is also planned to manufacture products needed for the construction of a nuclear power plant in Farish District.
Uzbekistan will expand cooperation in the oil and gas sector in geological exploration, improving the efficiency of field development and deep processing of raw materials. Exploration work is underway at six investment blocks on the Ustyurt Plateau in cooperation with Azerbaijan’s SOCAR and British company BP. Another 128 blocks have been prepared for potential foreign partners. Plans have also been outlined to implement an MTO project in Bukhara Region and modernise the Bukhara and Ferghana oil refineries.
To coordinate engagement with investors, the government will establish an Investors Council in the fuel and energy sector chaired by the head of the Presidential Administration. The council will work to resolve issues arising at every stage of project implementation, from preparation to commissioning, including matters related to land allocation, grid connections and technical specifications.
Uzbekistan also plans to develop a National Energy Master Plan through 2050. A map showing opportunities for grid connections is expected to be presented by 1 March next year, followed by the full master plan by 1 July.
By 2030, the country aims to add 22,000 MW of new energy capacity, increase annual electricity generation to more than 129 billion kWh and raise the share of renewable energy sources to 54%. To train specialists, quotas for energy-related degree programmes are expected to increase from the next academic year. The government also plans to provide annual state-funded scholarships for 50 young people to study at leading universities abroad.
