Uzbekistan's renewable energy boom: How solar power is reshaping the country's economy

euronews (in English)

In this episode of Business Line Uzbekistan, we look at how the country is rapidly embracing solar power, securing billions in foreign investment and cutting emissions to position itself as a leader in renewable energy.

Transcript

00:00Uzbekistan is rapidly growing a green economy with renewable energies at its heart. A network

00:11of solar and wind power plants is being fueled by investments from Europe, Asia and the Middle

00:18East. Why now? And why Uzbekistan?

00:23Hello and welcome to the program. Foreign investment in Uzbekistan's energy transition

00:30totals more than 22 billion euros with 40 agreements signed. By 2030, renewables are

00:38expected to make up 54% of the country's total energy production, cutting CO2 emissions by

00:45more than half according to government data. So what's been the impact so far? Take a look

00:51at this. Amidst a vast, arid landscape, technology on a grand scale with more than 860,000 panels,

01:05this is one of Uzbekistan's largest solar power plants. It's located in the country's

01:11Bukhara region, an area blessed with abundant sunshine and has been funded with more than

01:17365 million euros of Chinese investment.

01:23You can see it's sunshine every day. Airports, radiation, so it's the best condition. Second,

01:32Bukhara is a big city. They need electricity, so that's why we invested this project here.

01:42The scale of this solar plant is mind-blowing and is playing a huge role in helping Uzbekistan

01:49to diversify its energy mix, reducing use of coal and natural gas. In fact, the energy

01:57produced here in a year can power up to 400,000 homes.

02:04Compared with the natural gas consumption, it will reduce 1.2 million tons carbon dioxide

02:11emission each year. It means that almost zero emission. It's good for the environment.

02:19The plant has also created new jobs, around 30 so far, helping to fuel green skills. Bezod,

02:28who's 35, had been working overseas but is now back in his home region.

02:35It's so exciting to be here as an electrical engineer. It's so beneficial to my career.

02:42When I wake up, I start to observe by window the weather, the sunny or the rainy today.

02:49If it's sunny, my mood is going to be raised because the more sunny, more energy.

02:58This is one of 11 solar sites now operating in Uzbekistan. Alongside wind plants, green

03:05power is being generated across 10 regions. Energy storage systems have also been commissioned.

03:13With a surplus of power forecast in the future, exports are planned too.

03:29All shining a light on how Uzbekistan's becoming a regional leader in renewables.

03:47Let's speak now to Andy Aranatassi, director and head of Uzbekistan at the European Bank

03:58for Reconstruction and Development. Andy, you're also financing solar. Why?

04:04Uzbekistan has one of the highest levels of greenhouse gas emissions per unit of GDP

04:11across the range of India's countries operations, which is understandable because 90% of the total

04:17energy consumption in the country is based on fossil fuels. However, it also has great

04:21ambitions to green its economy. How much have you invested then? And what

04:25further potential do you see? To date, we have invested more than 1.2 billion

04:29dollars supporting 3 gigawatt of renewable capacity, as well as grid enhancements and

04:34storage solutions. And the first ever green hydrogen project. Uzbekistan has an announced

04:39target of 25 gigawatt capacity of solar and wind by 2030. So we believe the potential

04:45for such project there is huge. Andy, thank you for joining us. Well, that's

04:49all we have time for in this edition. You can get more business news at Euronews.com.

04:54Thanks for watching and bye for now.

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