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Uzbekistan Launches $150 Billion Projects

Uzbekistan to Launch $150 Billion Projects

Uzbekistan's President Shavkat Mirziyoyev announced at the “Sustainable Energy” conference that thousands of industrial and infrastructure facilities will be launched in the country by 2030. Foreign investments totaling over $150 billion will be attracted for these projects.

Additionally, it is planned to construct more than 800,000 energy-efficient housing units in the “New Uzbekistan” complexes. However, implementing such projects will increase the demand for electricity.

To meet the electricity needs of the population and industry by 2030, "green" energy facilities with a total capacity of 17,000 MW will be launched. According to the head of state, this will enable the share of renewable energy sources to reach 54 percent.

As a significant step in the field of "green" energy, projects totaling $3.3 billion and with a capacity of 3,500 MW will begin in the Republic of Karakalpakstan, Bukhara, Kashkadarya, and Tashkent regions. Additionally, the principle of private partnership has been introduced in delivering electricity to consumers in the country.

Within this year, the “Samarkand Regional Electric Networks” company will be transferred to the management of Turkey's Aksa Elektrik. This move is expected to save $20 million annually.

The investor will also be responsible for modernizing the facilities. The president announced the financing of the "Kambarata-1" Hydroelectric Power Plant will commence next year, along with the construction of solar power plants based on Chinese technology.

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News » Economy » Uzbekistan Launches $150 Billion Projects