Uzbekistan Attracts $35 Bn in Energy Investments

President Shavkat Mirziyoyev announced at an energy sector launch ceremony that Uzbekistan has secured $35 bn in foreign investment in recent years to develop its energy system.

According to Mirziyoyev, these investments have helped increase electricity production to 85 bn kWh this year, 20 bn kWh higher than in 2017. He highlighted that the country is undertaking extensive reforms in the energy sector to meet the demands of a rapidly growing economy. Key objectives include ensuring reliable power supply across all regions and expanding generation from modern, environmentally friendly and renewable sources.

Recent projects include the commissioning of solar and wind power plants with a combined capacity of 5,000 MW, alongside hydroelectric stations producing 400 MW. As a result, renewable energy now accounts for 30% of Uzbekistan’s total energy mix.

Kursiv also reports that UNG Overseas, a subsidiary of Uzbekneftegaz, has signed a financing agreement with the US corporation Cargill worth up to $3 bn.