Uzbek President Discusses Energy and Investment Projects with Executives of Two Turkish Companies

Uzbek President Shavkat Mirziyoyev held discussions with Cengiz Holding Chairman of the Board Mohammed Cengiz and Aksa Energy Chairman of the Board Cemil Kazanci regarding investment projects in the energy sector and ways to develop cooperation between the two countries.

The media office of the Uzbek Presidency stated on Friday that the meetings with representatives of the two Turkish companies were held in Tashkent on the sidelines of the first meeting of the Fuel and Energy Sector Investors Council.

Expanding Projects and Investments

Mirziyoyev and Cengiz discussed expanding projects in the fields of energy, geology, and infrastructure, alongside the establishment of thermal power plants and the modernization of electricity distribution networks.

He also discussed with Kazanci the expansion of cooperation with Aksa Energy, particularly the company's participation in projects to develop and technologically upgrade the Uzbek energy sector, and both sides agreed to accelerate work on specific projects.

Ambitious Renewable Energy Targets

During his meeting with foreign investors, Mirziyoyev stated that Uzbekistan opened its energy market to private investments over the past ten years, attracting investments worth 35 billion dollars.

He added that the share of renewable energy in total electricity production reached 31 percent thanks to solar, wind, and hydroelectric power plants.

New Agreements and the 2050 Plan

As part of the meetings, Uzbekistan signed agreements to implement six major projects in the energy sector with a total value of 4.7 billion dollars, targeting the creation of capacities to generate 3,000 megawatts of electricity and store 400 megawatts of energy.

Uzbekistan aims by 2030 to create new energy production capacities totaling 22,000 megawatts, raise annual electricity production to more than 129 billion kilowatt-hours, and increase the share of renewable energy to 54 percent of total production.

Authorities also announced the preparation of the "National Master Plan" for the energy sector until 2050, paving the way for its presentation to public opinion.

Source: Anadolu Agency