How Uzbekistan’s dependence on renewable energy has been transformed?.. Report

Uzbekistan, a country located in Central Asia, rich in Natural Resources, is undergoing a significant transformation in the energy sector. This transition is characterized by a shift from traditional to renewable energy sources, which opens up a huge number of opportunities for investors and companies alike.

Uzbekistan is currently heavily dependent on natural gas, which accounts for almost 85% of its energy consumption. However, the government of Uzbekistan is eager to reduce this dependence and has set ambitious goals to increase the share of renewable energy in the country’s total energy mix.

By 2030, Uzbekistan aims to generate 25% of its electricity from renewable sources, a goal that provides great opportunities for investment in this sector.

The geographical location of the country enhances its potential in the field of renewable energy.

And with more than 300 sunny days a year, Uzbekistan has a huge potential for solar power generation. Likewise, its mountainous terrain makes it an ideal location for hydroelectric projects.

Recent government initiatives to attract foreign investment in these areas have already begun to bear fruit. In 2020, Uzbekistan signed agreements with several world companies for the development of solar and wind energy projects.

However, the disclosure of the potential of the energy market in Uzbekistan is not without challenges. And one of the main obstacles is the country’s outdated energy infrastructure.

This requires significant investments, which the state seeks through foreign direct investment and partnerships with international financial institutions.

While the government is taking steps to address this problem through education and training programs, it will take time to build a workforce that can support the growth of the renewable energy sector.