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    Uzbekistan

    Uzbekistan's green energy surge: $2.1bn FDI fuels 5bn kWh generation

    Uzbekistan's green energy surge: $2.1bn FDI fuels 5bn kWh generation

    President of Uzbekistan, Shavkat Mirziyoyev convened a meeting to address priority tasks for 2024 aimed at enhancing renewable energy sources and pointed out current achievements such as FDI equaling $2.1bn and generation of 5bn kWh of energy through renewable resources, the President's press service reports.

    Shavkat Mirziyoyev during the online meeting.
    Source: President's press service

    Exploiting Abundant Solar and Wind Energy Potential

    During the meeting, it was highlighted that Uzbekistan possesses significant untapped potential in solar and wind energy, capable of meeting electricity demands ten to twelvefold. The issue of underutilizing this vast opportunity persisted for years; however, recent efforts to establish a conducive legal framework have attracted investors to the sector.

    Momentum in Green Energy Initiatives

    Significant initiatives are underway to develop "green energy" sources across the country. Foreign direct investment totaling $2.1bn has been injected into the industry, with an additional $13bn worth of projects in progress.

    Regional ministries connecting to the meeting via Zoom.
    Source: President's press service

    Modern solar and wind power plants are being constructed in various regions, with nine large facilities already operational in Bukhara, Jizzakh, Kashkadarya, Navoi, Samarkand, and Surkhandarya. Additionally, six hydroelectric power plants, both large and small, with a combined capacity of 183MW, have been commissioned in Andijan, Samarkand, Surkhandarya, and the Tashkent region.

    Expansion of Solar Panel Installations

    Solar panels with a total capacity of 457MW have been installed in social sphere facilities, enterprises, residential buildings, and properties owned by entrepreneurs. These efforts have resulted in generating an additional 5bn kWh of environmentally friendly electricity and conserving 1.5bn m³ of gas.

    Economic Stimulus and Local Industry Growth

    The concerted endeavors in renewable energy have not only bolstered the nation's energy independence but have also spurred economic growth. Local enterprises are experiencing a surge in production, particularly in items such as transformers, cables, heating collectors, solar panels, insulators, and metal poles.

    "In summary, green energy has emerged as a pivotal driver of our economy and a national movement," remarked President Mirziyoyev, underscoring the transformative impact of sustainable energy initiatives on Uzbekistan's development trajectory.

    Earlier, it was reported that Uzbekistan has initiated a $62mn investment project aimed at establishing green hydrogen production facilities in collaboration between "Maxam-Chirchik", a prominent entity within Uzbekistan's industrial sector, and "ACWA Power Uzbekistan Hydrogen Holdings," a subsidiary of the esteemed "ACWA Power Company" of Saudi Arabia.

     

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    28.02.2024, 23:14   Comments (0)   1703
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