Uzbekistan plans to instal 4.3 GW of solar and wind power during the course of 2023. A total of 2.1 GW of new capacity will come from large solar and wind power plants, 1.2 GW will come from solar panels installed on rooftops (households, social and business facilities), and 550 MW will come from small PV power plants. The new solar and wind capacity is expected to produce an additional 5 TWh of power and save the use of 4.8 bcm of natural gas.
Uzbekistan will allocate US$15.4bn to the development and building of these renewable projects. Funds from investors under public-private partnerships (PPP) will represent US$13.4bn of the funding, while loan from banks (US$1.1bn), company funds (US$610m), foreign organisation funds (US$150m) and state budget funds (US$100m) will account for the rest.
At the end of 2021, Uzbekistan had only 1 MW of installed wind capacity and 104 MW of solar capacity. However, Uzbekistan targets 8 GW of solar and wind capacity by 2026 and 12 GW by 2030. The country is planning to build at least 5 GW of solar, 3 GW of wind, and 1.9 GW of hydropower capacities by 2030 to cover 25% of the power mix (up from 10% in 2019). Uzbekistan also plans to reach carbon neutrality by 2050.