In the fiscal year 2023, the joint-stock company “National Power Grid of Uzbekistan” demonstrated robust performance in the energy sector. The organization successfully exported $91.2 mn worth of electricity and facilitated the transit of $9.6 mn worth of electricity to Afghanistan, according to company officials.
In the same year, the total export value reached an impressive $100.8 mn, reflecting the company’s commitment to cross-border energy commerce. Additionally, a staggering 71.9 bn kWh of electricity flowed through the main power networks, reinforcing the reliability and efficiency of Uzbekistan’s energy infrastructure.
Cost optimization initiatives
Efficiency remained a top priority for the National Power Grid of Uzbekistan in 2023. The company implemented several cost-saving measures, resulting in substantial savings. Here are the key highlights:
By streamlining investment projects, the company saved a remarkable UZS 288 bn ($22.8 mn). An additional UZS 29.3 bn ($2.3 mn) was saved through the optimization of non-productive activities. The company achieved savings of UZS 19.1 bn ($1.5 mn) by optimizing procurement contracts. The conversion of the “Energyamakhsusavto” organization into a branch led to savings of UZS 1 bn (nearly $80,000).
Plans for 2024
Looking ahead, “National Grids of Uzbekistan” outlined ambitious goals for 2024:
1. Increased transmission: The company aims to transmit 74 b kWh of electricity through the main power grids, reinforcing its commitment to reliable energy distribution.
2. Strategic investment projects: In 2024, the organization plans to execute 23 investment projects with a total project value of $1.9 bn. Notably, this represents a substantial 270% increase compared to the 2023 plan. The breakdown of funding sources includes:
- Foreign funds under state guarantee: $164.1 mn (a 178.4% increase from the 2023 foreign debt absorption plan).
- Direct foreign investments: $200 mn.
- Company’s funds: $62.2 mn.
- Credit Funds from Commercial Banks: $4.3 mn.
3. Export projections: The company forecasts an export figure of $111.8 mn in 2024, further solidifying its position as a key player in the regional energy market.
The National Power Grid of Uzbekistan remains committed to excellence, innovation, and sustainable energy solutions as it continues to shape Uzbekistan’s energy landscape. Investors and stakeholders can anticipate exciting developments in the coming year.
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