Uzbekistan draws nearly $35 billion in energy investment, targets 50% renewables by 2030

The influx of funds has brought nine gigawatts (GW) of new power generation capacity online, Khodjaev said. The country's total generation capacity now stands at 25.8 GW. Electricity output has climbed nearly 40%, rising from 60 billion kilowatt-hours to 85 billion kWh.

Khodjaev emphasized that the goal is to transform energy into one of Uzbekistan's strongest assets for industry, investors, the population, regional cooperation, and the green transition. This, he said, is the core essence of ongoing energy sector reforms.

Currently, the combined capacity of solar and wind power plants in Uzbekistan exceeds 5.5 GW. Together with hydropower, the share of clean energy in the country's total energy mix has reached 30%. More than 2 GW of solar panels have been installed on residential homes, social facilities, and private commercial buildings.

"This is a very big change," Khodjaev said.

Separately, the Ministry of Energy and UAE-based AMEA Power broke ground on another major project: a 150 MW battery energy storage system in Tashkent's Mirzo Ulugbek district. The project is valued at $86.1 million.

Looking ahead, Uzbekistan plans to build a 200 MW storage facility in the Gijduvan district of Bukhara region, in partnership with AMEA Power. That project is expected to cost $200 million.

AMEA Power is also moving forward with a $1.06 billion project to build a 1,000 MW wind farm and a 40-km transmission line in the Kungrad district of the Republic of Karakalpakstan.

Under a presidential decree, Uzbekistan will ramp up its deployment of renewable energy in 2026. By 2030, the share of green energy in total generation is targeted to exceed 50%. The government plans to build new power plants and storage facilities, along with 7,000 km of backbone transmission lines to connect them to the grid, while introducing digitalized control systems.