Uzbekistan Sets Ambitious Goal of Doubling GDP by 2030
President Shavkat Mirziyoyev of Uzbekistan has set ambitious plans to double the country’s economy to $200 billion by the year 2030. This announcement, made during a ceremony for the launch of energy projects, highlighted the significant progress made in the energy sector reforms and the focus on green energy initiatives.
The reforms initiated in the energy sector over the past eight years have paved the way for substantial developments, particularly in renewable energy, and have attracted $20 billion in direct foreign investments to the sector. This has led to the emergence of 24 independent energy producers and the launch of 16 large-scale solar and wind power plants with a total capacity of 3,500 megawatts.
With the aim to reach a $200 billion economy by 2030, Uzbekistan is responding to the expected rise in energy demand by planning to construct 19,000 megawatts of renewable energy capacity. By 2025, 18 new solar and wind power plants will be operational, along with energy storage systems, increasing the share of green energy to 54%.
To further develop energy infrastructure, Uzbekistan plans to establish over 2,000 small and micro-hydropower stations in collaboration with private entrepreneurs. Steps are also being taken to create a competitive wholesale electricity market by the end of 2024, promoting private sector participation and fostering competition.
International and regional cooperation in green energy are also expanding, with Uzbekistan signing agreements with Kazakhstan, Azerbaijan, and Saudi Arabia to export green energy to Europe. A unified energy platform with neighboring countries will be launched to enhance regional energy stability.
Uzbekistan has committed to reducing harmful gas emissions by 35% by 2030, in alignment with the Paris Agreement. The year 2025 has been declared the “Year of Environmental Protection and Green Economy” in Uzbekistan, further emphasizing the country’s dedication to sustainable development and economic growth.
These reforms and projects outlined by President Mirziyoyev are part of Uzbekistan’s comprehensive strategy to modernize its energy sector, promote sustainable development, and achieve significant economic growth in the coming years.
