The Uzbekistan government plans to start exporting surplus electricity to Europe by 2030, depending on the successful completion of a trilateral transmission project with Kazakhstan and Azerbaijan. The latter project involves constructing a deep-water transmission cable across the Caspian Sea to transmit electricity through Kazakhstan, Azerbaijan, Georgia, and across the Black Sea to Romania, Hungary, and Bulgaria.
By the end of 2024, Uzbekistan’s renewable energy capacity is expected to exceed 4 GW, with projections indicating it will surpass 20 GW by 2030. Of this, 2 to 5 GW would be exported to Europe. By 2030, Uzbekistan aims to increase its total energy generation capacity by over 2.4 times to 44.9 GW, with renewable energy sources contributing 40 per cent, including 8.6 GW from solar and 10.2 GW from wind energy.
In July, ACWA Power completed the dry financial close for the Tashkent Riverside project for a value of $533 million in Uzbekistan. This project includes a 200 MW solar photovoltaic facility and a 500 MWh battery energy storage system (BESS) to enhance the stability of Uzbekistan’s power grid.
