Tashkent, Uzbekistan (UzDaily.com) — On 19 June 2025, Deputy Prime Minister of the Republic of Uzbekistan Jamshid Khodjaev took part in the St. Petersburg International Economic Forum (SPIEF). He spoke during a panel session titled “The Global Energy Market in Search of Balance Between Producers and Consumers.”

The session featured high-level participants including OPEC Secretary General Haitham Al Ghais, Türkiye’s Minister of Energy and Natural Resources Alparslan Bayraktar, Bahrain’s Minister of Oil and Environment Mohammed bin Mubarak bin Daina, Deputy Prime Minister of Russia Alexander Novak, as well as senior government officials from Hungary, Serbia, and other countries.

In his remarks, Jamshid Khodjaev emphasized that Uzbekistan is confidently moving toward a green energy transition, focusing on renewable energy sources and creating favorable conditions for investors:

“Recent institutional and legislative reforms have significantly enhanced the investment attractiveness of our country in the field of alternative energy. Today, the global energy sector is undergoing a profound transformation, and it is sustainable development and energy transition that are shaping new principles of interaction between energy producers and consumers.”

According to the Deputy Prime Minister, Uzbekistan has already achieved tangible results. The country’s installed energy capacity has increased by 50%, reaching 25 GW. Over the past few years alone, more than 3.5 GW of solar and wind power capacity have been commissioned, and energy storage infrastructure is actively developing.

He also noted that under the national program, Uzbekistan plans to increase electricity production to 135 billion kilowatt-hours by 2030, and to expand the installed capacity of renewable energy sources more than fivefold — to over 20 GW. In addition, regional initiatives are being implemented, including the export of green energy to European countries.

Special attention was given to the project implementation model:

“All energy projects in Uzbekistan are based on the principles of public-private partnership and financed through direct investment. We have created an environment in which investors feel confident, and the use of renewables is not only a rational choice but also a profitable one,” — Khodjaev stated.

In conclusion, he highlighted the country’s unique natural potential:

“Sun, wind, and water are gifts of nature — and it is our responsibility to use these resources as efficiently as possible. Uzbekistan will continue to scale up the adoption of clean energy and strengthen its role as a reliable partner in the global energy transformation.”