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Mirziyoyev meets Turkish companies as Uzbekistan signs six energy deals worth $4.7 billion
Uzbekistan President Shavkat Mirziyoyev discussed energy investments with executives from Cengiz Holding and Aksa Enerji in Tashkent. At the Investors Council, agreements were signed for six projects worth a total of $4.7 billion, envisaging 3,000 megawatts of generation and 400 megawatts of storage capacity.
Uzbekistan President Shavkat Mirziyoyev received Mehmet Cengiz, chairman of the board of Cengiz Holding, on Friday at a meeting of the Fuel and Energy Sector Investors Council in Tashkent.
Mirziyoyev and Cengiz discussed the growth in trade between Uzbekistan and Türkiye and progress on major joint investment projects. They also addressed opportunities to expand cooperation in energy, geology and infrastructure.
The sides also reviewed projects for building thermal power plants and modernizing electricity distribution networks.
During the meeting, Mirziyoyev also met Cemil Kazancı, chairman of the board of Aksa Enerji. They discussed the company’s participation in projects aimed at developing and technologically modernizing Uzbekistan’s energy sector, and agreed to accelerate work on specific projects.
$4.7 billion investment in six projects
The meeting provided a platform for open dialogue with investors on accelerating energy-sector reforms and increasing the sector’s investment appeal. Mirziyoyev emphasized the importance of a stable energy supply for the growth of Uzbekistan’s economy, the implementation of entrepreneurs’ plans and improving public welfare.
Over the past 10 years, Uzbekistan has opened its energy market to private investment and introduced public-private partnership mechanisms. During this period, $35 billion was attracted to the energy sector. The share of renewable energy in total generation reached 31% through the development of solar, wind and hydropower resources.
Agreements were signed at the investors’ meeting for the implementation of six major projects with a total value of $4.7 billion. The projects envisage the installation of 3,000 megawatts of generation capacity and energy storage systems with a capacity of 400 megawatts.
Capacity and renewable energy targets for 2030
Uzbekistan plans to bring 22,000 megawatts of new energy capacity online by 2030 and increase annual electricity generation to more than 129 billion kilowatt-hours. The share of renewable energy in total generation is also targeted to rise to 54% over the same period.
As part of these targets, the construction of 5,000 kilometers of electricity networks and 16 major substations is planned. The capacity of energy storage systems is expected to reach 4.5 gigawatts.
Mirziyoyev said Uzbekistan would prepare its first National Energy Development Master Plan, covering the energy sector’s development through 2050, and planned to increase the participation of foreign investors in modernizing the energy infrastructure.
Source: Anadolu Ajansı
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