EBRD Promotes Renewables Development in Uzbekistan

Source: www.gulfoilandgas.com 7/14/2021, Location: Asia

Taking the energy transformation of Uzbekistan to the next stage is the goal of an international roundtable organised by the European Bank for Reconstruction and Development, the World Bank Group and the government in a virtual format.

Although rich in oil and gas reserves, Uzbekistan has embarked on an ambitious and far-reaching plan to reduce greenhouse gas emissions and eventually achieve carbon neutrality of the domestic energy sector by 2050.

The country plans to focus on the development of low-carbon energy sources including solar, hydro and wind energy.

The EBRD has supported Uzbekistan in the development of a roadmap towards carbon neutrality. The Bank is providing technical support and assistance in financing, in particular, the development and implementation of projects for large-scale power plants based on renewables, the implementation of solutions for the modernisation of the power grid, the decommissioning, modernisation and conversion of old power plants.

Uzbekistan has particular promising potential in the development of wind and solar power and the EBRD most recently signed some of the first private investments in the sector such as the solar photovoltaic plants in Nur Navoi and Samarkand.

The international roundtable under the title “Accelerating Renewable Energy Development for Clean Energy Transition in Uzbekistan” will discuss ways to scale-up the deployment of renewable energy within the framework of the clean energy transition agenda of the government.

The event will examine the current status and future plans and draw on good practices on strategy, policy, regulations, technologies, private sector participation and innovative financing mechanisms.

Topics to be raised will include progress, challenges, barriers and new reforms in the renewables sector; how to create an enabling environment for renewables, including legal and regulatory framework and institutional responsibilities; the government’s plans for the transition to a competitive wholesale electricity market; clean energy transition and decarbonisation of the energy sector, and many more.

Alisher Sultanov, Minister of Energy of Uzbekistan commented: “The resolution of the President "On measures to develop renewable and hydrogen energy in the Republic of Uzbekistan" was adopted. We are at the start of this work, and this is a new interesting and important direction for our professionals and consumers in general. We are carefully studying the best international practices in countries such as Germany, Russia, the Netherlands, China and Spain. I am confident that this exchange of experience will help us to shape our path and succeed in attracting international investment in this area. We are taking bold and concrete steps to implement a number of strategic and sectoral measures aimed at expanding the use of renewable energy sources and building infrastructure for hydrogen energy.”

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