Russia’s nuclear jackpot: Rosatom eyes $24.7 billion windfall from Uzbekistan’s first NPP project

The ambitious low-power nuclear power plant (NPP) project in the Jizzakh region is set to generate up to 2 trillion rubles in orders for Russian enterprises, according to Alexey Likhachev, the head of Rosatom. Based on current exchange rates from the Central Bank of the Russian Federation, this figure is equivalent to approximately $24.7 billion.

This announcement comes as Uzatom and Rosatom signed two additional documents on March 24 regarding the construction of Uzbekistan’s first nuclear facility. Concrete pouring for the nuclear power unit has already commenced at the designated site in the Forish district.

Discrepancies in project valuation

The staggering figure cited by the Rosatom chief has raised questions regarding the project's total cost. Just one year ago, in March 2025, the director of Uzatom, Azim Akhmedkhodjayev, stated in an interview that the cost of building the small-scale NPP would not exceed $2 billion.

While the financial specifics – including project-estimate parameters, total plant value, and the eventual cost of electricity – have not been officially disclosed to the public, Likhachev emphasized the macroeconomic benefits for Russia. He noted that the project would create roughly 1,000 direct jobs in Russia and provide a significant return on investment. According to Likhachev, every ruble invested during the construction phase will return up to 1.5 rubles to the Russian economy, rising to 2 rubles during the operational phase.

Localization and technical specifications

Despite the high volume of orders headed to Russia, Azim Akhmedkhodjayev noted that an agreement has been reached to purchase necessary materials for the station's construction with a focus on local involvement. At the current stage, the level of localization is expected to reach at least 29-30%.

The updated project configuration in the Forish district includes:

Two low-power power units equipped with RITM-200N reactors (55 MW each).
Two conventional large power units equipped with VVER-1000 reactors.

This unique combination makes Uzbekistan the first country in the world to co-locate two different types of nuclear station projects on a single site. The integrated complex is expected to have a total capacity of 2.1 GW.

Project chronology and future outlook

The journey toward nuclear energy in Uzbekistan has seen several shifts since discussions began in 2017:

2018: Initial plans for two 1200 MW units were valued at approximately $11 billion.
2020–2023: Progress slowed due to the pandemic and regional geopolitical tensions.
2024: Focus shifted to a small–scale station, with the configuration later adjusted from 330 MW down to 110 MW.
2025: A new agreement re-introduced large-scale units alongside the small reactors.

Deputy Prime Minister Jamshid Khodjayev stated that by 2035, the joint station on the 525-hectare site will produce 15.2 billion kWh of electricity annually. This output is expected to cover approximately 15% of Uzbekistan’s current total electricity consumption.