Deputy Prime Minister of Uzbekistan Jamshid Khodjaev Speaks at the St. Petersburg International Economic Forum (SPIEF)

On June 19, 2025, the Deputy Prime Minister of the Republic of Uzbekistan, Jamshid Khodjaev, participated in the St. Petersburg International Economic Forum (SPIEF), the press service of the MIIT reports. As part of the event, he spoke at the panel session titled “The Global Energy Market: In Search of a Balance Between the Interests of Producers and Consumers.”

Participants of the discussion included OPEC Secretary General Haitham Al Ghais, Turkey’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 the Russian Federation Alexander Novak, as well as representatives from Hungary and Serbia’s ministries and agencies.

In his address, Jamshid Khodjaev particularly emphasized Uzbekistan’s commitment to developing green energy, based on its natural potential and the creation of favorable conditions for investors:

“In recent years, consistent institutional and legal reforms have fundamentally changed Uzbekistan’s investment appeal, particularly in the field of green energy. Today, the fuel and energy sector is undergoing an unprecedented transformation, and the energy transition is shaping new principles of interaction between producers and consumers.”

Thus, the foundation of Uzbekistan’s green transition lies not only in its natural resources but also in the development of market-based and legal incentive mechanisms.

“Under the leadership of the President of the Republic of Uzbekistan, Shavkat Mirziyoyev, large-scale reforms have been implemented to modernize the energy system. As a result, the installed capacity of the energy system has increased by 50%, reaching 25 GW. More than 3.5 GW of capacity based on solar and wind energy has been commissioned. The country’s energy storage potential is also growing steadily. A program has been adopted to increase electricity production to 135 billion kWh by 2030 and to boost the installed capacity of renewable energy sources more than fivefold, to over 20 GW. Regional initiatives are underway, including the export of green energy to European countries,” noted Jamshid Khodjaev.

Forum participants were also informed that all projects in this sector are implemented through public-private partnerships and attract direct investments.

“Uzbekistan has immense opportunities to utilize solar, wind, and water resources for developing new power generation capacities — this is a gift from God. The most effective approach is to harness this potential, especially under the favorable investment climate that has been created to attract investors,” the speaker added.