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Uzbekistan signs $4.7bn energy deals and outlines plans for two more nuclear power plants

Foreign firms including ACWA Power, EDF and Toyota Tsusho are involved in projects covering 3,000 MW of generating capacity and 400 MW of storage. Tashkent is also preparing 128 oil and gas exploration blocks for investors and pursuing a future electricity connection to Europe.

00:00 Speaker A

Uzbekistan has signed six energy agreements worth $4.7 billion. They cover 3,000 megawatt of new generating capacity and 400 megawatt of storage. Investors come from Europe, Asia and the Gulf.

00:13 Speaker A

President Mirziyoyev says previous projects have not always delivered electricity where it's needed. Future investments will be planned differently.

00:21 Speaker B

Bundan buyon generatsiya, energiya saqlash va tarmoqlarni birgalikda qamrab oladigan, mana shunday kompleks loyihalarga ustuvorlik beramiz.

00:40 Speaker A

New industries and data centers are putting further pressure on electricity demand. Uzbekistan's energy strategy is entering a new phase.

00:50 Speaker A

By 2030, the government plans to expand the electricity network, build new substations, and increase energy storage capacity.

01:04 Speaker A

The first national energy master plan through 2050 is also expected to provide investors with a clearer picture of future demand and infrastructure needs.

01:15 Speaker A

The World Bank says stronger infrastructure is essential for economic growth.

01:21 Speaker C

all of this will need energy, will need more generation, but we'll also need the transmission infrastructure and efficient distribution to power the future growth of the country.

01:35 Speaker A

The International Finance Corporation, the World Bank Group's private sector arm points to efficiency.

01:42 Speaker D

in the energy sector, I think it's energy efficiency. This is a still a highly energy-intensive economy.

01:51 Speaker A

Nuclear power is another part of the expansion. The first plant under construction in Jak with Russia's Rosatom is designed to add 2,110 megawatt of generating capacity.

02:05 Speaker B

O'shaning uchun birinchi atom elektrostansiyani boshladik, ikkinchi va uchinchisiga ham rejalarimiz ham bor.

02:13 Speaker A

Meanwhile, Britain's BP and Azerbaijan's Socar are exploring for oil and gas. Another 128 blocks are being prepared for foreign investors. A new energy investors council chaired by Saida Mirziyoyeva, head of the presidential administration will address obstacles involving land allocation and grid connections.

02:40 Speaker A

Uzbekistan also plans to export renewable electricity towards Europe via Kazakhstan, the Caspian Sea, and Azerbaijan. The proposed corridor remains at the feasibility stage.

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