Uzbekistan Energy Storage Market (2025-2031) | Trends & Size
As the country aims to modernize its energy sector and integrate renewable energy sources, addressing these regulatory and financial challenges will be crucial in unlocking the full
The Uzbekistan Power Market is growing at a CAGR of greater than 2.41% over the next 5 years. Mitsubishi Heavy Industries Ltd, Masdar Clean Energy Company, Helios Energy Ltd, SkyPower Ltd and Federal Hydro-Generating Co RusHydro PAO are the major companies operating in this market.
In November 2022, Uzbekistan set up a new power plant in Khovos, Syrdaryo, to increase its generating capacity. The Ministry of Energy mentioned that this plant can generate up to 1.7 billion KWh of electricity every year. According to BP's statstical review 2022, Uzbekistan genrated 70.1 Gwh of electricity in 2021.
In November 2022, Uzbekistan unveiled a new power plant that will extend its generating capacity. According to the Ministry of Energy, the power plant constructed in the Syrdaryo province's Khovos district will have the capacity to generate up to 1.7 billion KWh of electricity annually once it is fully operational.
7. The Project builds on the World Bank energy program in Uzbekistan by scaling up the private investment and commercial financing, diversification of power mix from domestic resources (solar), clean energy transition and decarbonization.
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