Clean Energy - The Times Of Central Asia

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Green economy

AIIB Provides $500 Million to Support Uzbekistan’s Green Economy Reforms

The Asian Infrastructure Investment Bank (AIIB) and the Government of Uzbekistan have signed a $500 million financing agreement to support the country’s Green and Resilient Market Economy Program, the Bank announced on November 28. The initiative is designed to accelerate Uzbekistan’s transition toward a greener, more resilient, and market-oriented economy through a comprehensive package of policy and institutional reforms. According to AIIB, the funding will assist the Uzbek government in strengthening the policy and governance frameworks necessary for low-carbon development, improved public-sector efficiency, and greater resilience to climate-related risks. The initiative falls under AIIB’s Climate-Focused Policy-Based Financing approach, which supports systemic reforms that have economy-wide climate impacts. The reforms backed by the new financing include measures to enhance efficiency and governance in the energy sector and state-owned enterprises, expand climate-responsive public procurement, and establish transparent systems for carbon-credit development and trading. The program also highlights the development of a robust Measurement, Reporting, and Verification (MRV) system to attract greater private capital for climate investments. “This operation reflects AIIB’s commitment to supporting Uzbekistan’s reform agenda through measures that can deliver lasting climate and economic gains,” said Konstantin Limitovskiy, AIIB’s Chief Investment Officer for Region 2 and Project and Corporate Finance Clients. He noted that the program is expected to foster conditions conducive to increased climate finance and stronger private-sector engagement in Uzbekistan’s green transition. The program is co-financed by the World Bank Group and is aligned with several national strategies, including Uzbekistan’s Strategy for Transition to a Green Economy for 2019-2030, its second Nationally Determined Contribution under the Paris Agreement, and the broader Uzbekistan-2030 development strategy. These frameworks stress clean energy, resource efficiency, and long-term economic resilience. AIIB projects that the reforms will generate substantial environmental and social benefits over time. More efficient resource use, the scaling up of clean energy solutions, and improved climate regulation are expected to reduce greenhouse gas emissions, enhance air quality, and strengthen the country’s capacity to withstand climate shocks. The adoption of cleaner technologies could also lower energy costs and improve living conditions, particularly for vulnerable communities. In a separate agreement earlier this year, AIIB provided a $71.1 million loan to Uzbekistan to modernize rural roads in Khorezm and Karakalpakstan. That project aims to enhance climate resilience and improve access to markets and public services for rural populations.

Electric Vehicles

Uzbekistan Startup to Build First National EV Charging Network

A Tashkent-based startup is set to build Uzbekistan’s first national electric vehicle (EV) charging network, marking a significant step in the country’s push toward clean energy and technological self-reliance. Pulseev, established earlier this year, aims to install 500 EV charging stations across Uzbekistan by 2026, with a long-term target of 3,000 stations by 2030. Its first large-scale charging hub, now under construction, will include more than 50 charging bays, complemented by modular cafés, coworking spaces, and a children’s playground. Designed and assembled locally, Pulseev’s chargers are tailored to Uzbekistan’s energy infrastructure and climatic conditions. The stations will offer fast charging, mobile app integration, and remote monitoring, features aimed at simplifying the user experience. “We’re not just installing hardware,” said co-founder Jasurbek Khodjaev. “We’re creating spaces where people feel proud to power their vehicles with clean energy, while families enjoy time together.” The initiative aligns with Uzbekistan’s broader strategy to invest in renewable energy and improve energy efficiency. The government has expressed strong support for EV adoption and digital infrastructure as part of efforts to reduce dependence on fossil fuels and modernize the national grid. Pulseev’s long-term vision includes expansion into other Central Asian markets and the Middle East. The company promotes a concept it calls “energy freedom,” advocating for democratized access to clean energy not only for transportation but also for everyday life. “This is about dignity, independence, and innovation,” said Mukhammad Khalil, founder of Startup Garage, a regional accelerator supporting Pulseev. The project also reflects a broader shift in Central Asia’s startup ecosystem, with increasing emphasis on indigenous technological solutions to local challenges. By developing EV infrastructure domestically, Pulseev positions itself as a key player in shaping the region’s sustainable transport future.

Clean Energy

As China Cuts Gas Demand, Uzbekistan Eyes Renewables Opportunity

China’s rapid transition to clean energy is beginning to reshape global energy markets, with significant implications for Central Asia. While the shift poses challenges for major natural gas exporters such as Russia, Turkmenistan, and Kazakhstan, it may create new opportunities for Uzbekistan, according to a recent analysis by Eurasianet. A report by BloombergNEF, titled Energy Transition Supply Chains 2025, highlights China’s dominant position in clean energy manufacturing. The country controls over 70% of global production in sectors such as solar panels, wind turbines, and batteries, falling short only in the area of hydrogen electrolyzers. China is also leading in investment. In 2024, mainland China accounted for 76% of global spending on clean-tech manufacturing facilities. This robust industrial base aligns with the country’s surging domestic clean energy usage. Currently, renewables meet approximately 80% of the nation’s growing electricity demand. Think tank Ember projects that China will have over 2,460 gigawatts of renewable electricity capacity by 2030, twice the 2022 figure, with the bulk coming from solar power. Although fossil fuels still supply about 62% of China's energy mix, this proportion is expected to decline as economic growth slows, renewable capacity expands, and the country pursues its goal of carbon neutrality by 2060. These trends are already affecting regional energy dynamics. China’s softening demand for natural gas may explain the lack of progress on a Russian proposal to increase gas deliveries via Kazakhstan, as well as ongoing delays in the Power of Siberia 2 pipeline project. Turkmenistan appears to be recalibrating its strategy, recently agreeing to export gas to Turkey, possibly reflecting a reassessment of future Chinese demand. Meanwhile, trade tensions between China and the West have led to a surplus of Chinese-manufactured solar panels and other clean energy technologies. As developed nations impose tariffs, Chinese firms are increasingly targeting developing markets. This could benefit Uzbekistan, which is actively expanding its renewable energy infrastructure. With surplus Chinese equipment likely becoming more affordable, Uzbekistan may gain access to low-cost clean energy technologies in the near future.