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Foreign investors warm to Uzbekistan’s energy sector reforms



The efforts of one Central Asian country to speed up its transition to renewable energy sources have been praised.

Multinational energy companies praised Uzbekistan’s efforts to increase private sector participation.

Representatives of EDF, the French giant utility company, and ACWA Power (the developer, investor, operator of desalination and power generation plants) welcomed the country’s approach to the energy sector development.

They spoke at the Uzbekistan Economic Forum and praised the Uzbek government’s regulatory stability, long-term partnership approach, and ambitious renewable energy goals.

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The energy sector, which accounts for 17% of GDP in 2021, is an important part of the economy. Uzbekistan has pledged to generate 25% of its electricity from renewable sources by 2026. It also holds the ambitious goal of reaching zero carbon emissions by 2050.

Clive Turton is Chief Investment Officer of ACWA Power. He welcomed the Uzbek government’s long-term approach to public–private partnerships (PPPs), and the sector’s regulatory stability. ACWA Power has reached a $5 billion cooperation agreement with Uzbekistan to develop green hydrogen, wind, and solar projects.

Pierre-Paul Antheunissens (Country Director for Uzbekistan at EDF) echoed these sentiments. He explained how Uzbekistan’s innovative approach in PPPs has made it a preferred partner in the region. EDF is looking to play a part in efforts to increase clean energy generation, transmission, and distribution.


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Azim Ahmedhodjaev (Uzbekistan’s Deputy Prime Minister, Minister of Energy) added: “The government has a strong commitment to the transformation and improvement of the energy sector. We are striving to create a more sustainable economy by converting to renewable energy sources. Uzbekistan plans to double its renewable energy source capacity to 8 GW in 2026 and 12 by 2030.

The government launched its PPP programme to attract private-sector expertise, finance and efficiency for public sector projects. PPP investments so far have been focused on the energy sector with the support of ADB and IFC as well as EBRD. With the goal of producing 8.9 GW electricity, the government has granted 19 projects. 2.9 GW will come from renewable energy sources like wind and solar.

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EU Reporter publishes articles sourced from many outside sources that reflect a broad range of views. These articles do not necessarily reflect the views of EU Reporter.

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