BAKU, Azerbaijan, June 1. Central Asian
countries have significant renewable energy potential, but they
continue to face serious energy security challenges, particularly
during the winter, when power constraints and shortages arise,
World Bank Energy Practice Manager in the Europe and Central Asia
Region, Stephanie Gil, said at the Ministerial Dialogue on
Promoting Renewable Energy Transition in Central Asia, held as part
of Baku Energy Week, Trend reports.
According to her, implementing ambitious energy development
plans in just one country in the region (Uzbekistan) will require
approximately $50 billion in investment over the next 10 years.
"Funds are needed to develop generation, modernize grids and
distribution systems, and digitalize energy infrastructure to
manage the volatility of renewable energy sources.
Structural reforms in the energy sector remain key to attracting
capital, including a gradual reduction in subsidies while
protecting vulnerable segments of the population, as well as
increasing the transparency and predictability of tariff policy,"
she noted.
The World Bank representative cited the example of the Scaling
Solar platform, which allowed Uzbekistan to launch competitive and
transparent auctions, create standardized investment contracts, and
attract private capital.
According to her, thanks to this approach, the country was able
to quickly scale up projects and reach approximately 8 GW of
installed capacity, with new projects under negotiation.
