EBRD to support Uzbekistan in achieving carbon neutrality
Tashkent, Uzbekistan (UzDaily.com) -- The Government of Uzbekistan and the European Bank for Reconstruction and Development signed a memorandum of understanding on long-term cooperation in order to achieve carbon neutrality of the domestic energy sector by 2050.
The cooperation of the parties is aimed at promoting Uzbekistan’s strategy to transform the country’s energy sector for its gradual decarbonization.
Within the framework of the agreement, the EBRD plans to provide technical support and assistance in financing, in particular, in the development and implementation of projects of large-scale power plants based on renewable energy sources (RES), the implementation of solutions to modernize the modern power grid, decommissioning old inefficient combined heat and power plants, as well as modernization and the conversion of the gas generation park.
According to the first vice-president of the EBRD, Jurgen Rigterink, the development of a roadmap for decarbonization of the energy sector in Uzbekistan "reflects the strategic priorities of the Bank in the country and was supported by the Japanese government."
At the request of the EBRD, the Japanese government provided financial support for the preparation of a roadmap for the transition of Uzbekistan’s energy sector to a low-carbon future.
Cooperation between Uzbekistan and the EBRD received a new impetus for development in 2017. Since the beginning of its activities in Uzbekistan and to date, the EBRD has invested more than 2 billion euros in 92 projects, including 7 projects in the energy sector with a total value of about $ 1 billion.
The Ministry of Energy of Uzbekistan announced a low-carbon energy strategy in May 2020. The country has decided to focus on the development of low-carbon energy sources, including peaceful nuclear energy, solar, hydro and wind energy.