You are well aware that five years ago, we set enormous goals and objectives for ourselves on increasing renewable energy sources and started practical work.

We started reforming this sector by consulting with leading experts from the World Bank, Asian Development Bank, Asian Infrastructure Investment Bank, and the European Bank for Reconstruction and Development.

By amending and adopting several new legislative documents, we have created a solid legal framework in the energy sector based on market principles.

We have abandoned administrative-command mechanisms and monopoly in this area and implemented an open, transparent, modern management system. We have created conducive opportunities for the access of the private sector and foreign companies.

We have established a Ministry of Energy and structural divisions in charge and responsible for specific areas.

Having hired international consultants and consulting companies for two years, we thoroughly studied the possibilities for developing solar, wind, and hydropower energy in our country and mapped the most promising areas.

As a result, the interest and trust of foreign investors in our country increased dramatically.

For the first time, two solar stations in Karmana and Nurabad districts have been commissioned under a 100 percent foreign direct investment project. So far, one billion kilowatt hours of green energy have been produced.

Today, we are standing at an important event, which opens yet another bright page in the history of our country: six large solar and wind plants with a total capacity of 2,400 megawatts are to be connected to the grid.

The first phase of the three solar power plants was built in Jizzakh, Samarkand, and Surkhandarya regions by the UAE-based company Masdar, a close friend and partner of Uzbekistan.

In addition, this established and highly respected company is building a modern wind power station in the Tomdi district. Today, its 100-megawatt capacity will also be commissioned.

Gezhouba Group launches the generation of the first 400 megawatts at solar power plants in Bukhara and Kashkadarya.

Remarkably, all these projects have been implemented on a PPI basis through foreign direct investments.

Once commissioned, these projects worth 2 billion US dollars will generate 6 billion kilowatts/hour of electricity and save up to 2 billion cubic meters of natural gas.

Two million homes will be provided with uninterrupted and guaranteed electric energy.

Industry and service sectors will create added value worth 4 billion USD.

It gives me particular pleasure to point out that the projects involving China – our strategic and large trade partner have been completed in an astonishingly short period of 9 months, which has never been witnessed in our practice.

Despite global production chain and logistics problems, we have effectively worked with companies such as Goldwind, Sungrow, Jolliwood, and Lonji.

Taking this opportunity, on behalf of our nation, I would like to express sincere gratitude to Mr. Mohamed Al Ramahi, Chairman of Masdar Company, Mr. Wu Yun, Vice-President of China Energy, and Mr. Lin Xiaodan, Chairman of Gezhouba Group, CEOs of Dong Fang, SMAC, SEPCO and other companies, who actively participated in these projects, as well, to leading international financial institutions, all foreign and local specialists, who have made a commendable contribution to the projects.

Dear participants!

Why do we provide so much encouragement and pay such great attention to the development of green energy?

First, we have set ourselves a goal of doubling our industrial production by 2030 and raising the metallurgy, petrochemical, and mechanical engineering sectors to a new quality level.

To this end, we intend to implement over 500 major industrial and infrastructure projects worth $150 billion.

We need to have guaranteed and stable energy resources to accomplish these ambitious goals.

We estimate that in the next six years, our country’s electricity demand will increase from the current 83 billion to 120 billion kilowatt hours. We will cover this primarily through renewable energy sources.

Second. We are constantly seeking ways to mitigate the negative impacts of climate change, which has become a global problem.

We are actively putting forward important proposals and initiatives at international summits.

Recently, at the UN Climate Change Conference in Dubai, the countries of the world agreed to triple the green generation.

Uzbekistan fully supports this initiative and will consistently continue its active investment policy to increase the capacity of green energy sources to 27 gigawatts by 2030.

Third. Our country possesses enormous potential for green energy. We need to take advantage of this great opportunity granted by the Creator and channel it to the interests of our people.

To encourage the industry, we have launched the “Solar House” system to provide preferential loans and subsidies for installing solar panels and ensure the guaranteed purchase of generated electricity.

50,000 households and entrepreneurs have installed solar panels this year alone in our country.

Given that over 7 million dwellings exist in the country, I would like to point out that this creates a huge market for investors.

Fourth. Nowadays, a special priority on a global scale is being given to products made from green energy. Green Energy certificate is being widely introduced.

Uzbekistan is making initial steps towards supplying green energy to the Asian and European markets in the future through a clear plan and steadfast efforts.

Fifth. This sector will provide a positive impetus for developing other industries and services.

A clear confirmation of my opinion is that domestic enterprises have supplied electrical equipment and construction materials worth 100 million USD as part of today’s projects.

As of today, four enterprises in our country have started manufacturing solar panels, and two more enterprises are operating in the production of steel structures.

Around fifty projects in green energy create an additional cable market worth 500 million USD.

We urge our foreign partners to strengthen cooperation with local companies in manufacturing components and spare parts.

Dear friends!

Our tremendous work today represents another vivid practical result of significant reforms started in this sector.

We are gradually transitioning into a competitive market mechanism by consistently implementing these measures.

In particular, we have recently decided to establish an energy market regulator.

We are actively implementing projects to construct 22 solar and wind power stations with a total capacity of 9 gigawatts in our country.

At the same time, we are focusing on infrastructure improvement for introducing new generating capacities.

Over the next five years, 70,000 kilometers of low-voltage power lines, more than 22,000 transformers, and over 100 substations will be fully renovated.

Moreover, we will build 10,000 kilometers of new high-voltage transmission lines.

Undoubtedly, we will further expand our fruitful cooperation with you to transform ambitious initiatives into specific projects.

We will create all the conditions and preferences for foreign investors to implement such priority projects.

Taking this opportunity, I sincerely congratulate all of you on the upcoming New Year 2024.

I wish you sound health, family happiness, and every success in all your noble endeavors.

May the New Year be full of joy and jubilant moments.

Thank you for your attention!