Electricity demand in Eurasia increased by 4% in 2024, driven by population growth and economic development. The International Energy Agency (IEA) forecasts that, excluding Kazakhstan and Russia, electricity demand in Eurasian markets will continue to grow at an average annual rate of 3.7% from 2025 to 2027.
Electricity production in Uzbekistan grew by 4.7% in 2024. The country remains largely dependent on gas but is actively diversifying its energy mix by investing in renewable energy sources. The government aims to increase wind and solar power generation capacity to 20 GW by 2030, Kursiv Media reports.
Turkmenistan’s energy sector expanded in 2024, increasing electricity exports to neighboring countries, including Afghanistan, Iran, Kyrgyzstan, and Uzbekistan. Electricity exports to Kyrgyzstan reached 1.6 TWh in 2023. An agreement with Uzbekistan aims to boost electricity supplies to 4 TWh per year, although specific trade volumes remain undisclosed.
In 2024, Azerbaijan saw a 4% increase in electricity demand, a significant improvement compared to the previous year. However, the country faced a 3% decline in electricity production, with a notable 10% drop in fossil fuel-based thermal generation. This decrease was offset by substantial growth in hydropower generation. Azerbaijan’s electricity exports dropped sharply by nearly 60%.
The IEA forecast indicates that the electricity sector in Eurasia is expanding, with Uzbekistan and Turkmenistan leading the growth.
CentralasianLIGHT.org
February 25, 2025