Photovoltaic (Solar PV) Market in Uzbekistan is expected to grow fast in the period 2018 - 2027. Large solar solar PV projects are announced ...
Update: February, 2019; NOTE: We have a new version of this report for the 2024 - 2033 period. Please review it here: https://renewablemarketwatch.com/country-reports/cis/uzbekistan
Format: 1 file(s) (PDF report) in English language and 1 file(s) in MS Excel with data from charts and tables
Author: Renewable Market WatchTM
Pages: 122
Report production №: RMWIN3482019156
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This market report offers an incisive and reliable long-term overview of the photovoltaic sector of the country for the period 2018 ÷ 2027. In view of recent cuts in FIT’s announced in Germany, Spain, France, UK, Czech Republic, Slovakia, Bulgaria, Greece and Italy, the Republic of Uzbekistan represents a stable investment environment in CIS region with clear rules and auction (tender) procedure. Current cumulative installed PV capacity in the country is insignificant, but a number solar projects will promptly increase in 2019 and next years.
First large scale solar photovoltaic power projects have been announced, whilst pipeline of over 500 MW solar project pipeline is progressing in different stages of permitting process. Auction (tender) procedure for solar energy in Uzbekistan is expected to pave the way for fast further growth of the solar PV market in the country. The report provides a complete picture of the market situation, dynamics, current issues and future prospects.
You will find more than 120 pages of valuable information in this unique, in-depth analysis of the Uzbekistan solar photovoltaic market. With comprehensive market data, this report brings clear and concise insights, to help investors in their decision making process. As 2017 and 2018 were challenging years of world photovoltaic industry, the time for taking right decisions during 2019 and the next few years is limited. Fast changing market environment requires relevant and accurate information. For your convenience, we offer opportunity for orders with customized report content. Reasons to buy this market report are, but no limited to:
- Solar resource potential in Uzbekistan
- Historical market data provided from 2000 to 2017 and forecasts until 2027
- Financial Model and Analysis of 50 MW Photovoltaic (Solar PV) Power Plant investment in Uzbekistan (IRR, WACC, Payback, NPV, Cash Flow, etc.)
- Over 50 charts, tables and maps
- Overview of announced auction (tender) procedure for renewable power plants in Uzbekistan
- Overview of Uzbekistan photovoltaic (solar PV) market development 2007 ÷ 2027
- Development scenario of Kazakhstan photovoltaic (solar PV) sector until 2027
- Major active and upcoming photovoltaic plants in Uzbekistan
- Current market prices of fully permitted and operational photovoltaic projects
- Attractiveness indices for photovoltaic investments in Uzbekistan and CIS countries
- SWOT Analysis (detailed in 5 pages)
- Overview of Uzbekistan legal and regulatory framework for RES generation
- Review of most relevant financing and supporting incentives
- Project developers, EPC providers and Consultants in Uzbekistan
- Key organizations and stakeholders affecting development of the photovoltaic sector in Uzbekistan
- Investment potential and opportunities
At next pages you will see the full table of content of this report. To order this report just click on the button "ADD TO CART". If you have any other questions please do not hesitate to call us on ++44 203 60 80 138 or write an e-mail to orders@renewablemarketwatch.com
TABLE OF CONTENTS 3
FOREWORD 8
1 METHODOLOGY AND LIMITATIONS 10
1.1 Research Methodology 10
1.2 Limitations 11
2 EXECUTIVE SUMMARY 12
2.1 Historical and Current Development Overview of Photovoltaic (Solar PV) Power Market in Uzbekistan 12
2.2 Uzbekistan Solar Resource Potential 12
2.3 Key Stakeholders Affecting Photovoltaic (Solar PV) Power Market Development in Uzbekistan 13
2.4 Market Drivers and Constraints 14
2.5 Auction (Tender) Procedure for Photovoltaic (Solar PV) Power Plants in Uzbekistan 14
2.6 Recent and Pending Changes in Renewable Energy Law in Uzbekistan 14
2.7 Market Forecast Summary 14
3 UZBEKISTAN POLITICAL AND ECONOMIC ENVIRONMENT. PEST ANALYSIS 16
3.1 Basic Country Data 16
3.2 Political Climate and Ruling Party 19
3.3 GDP and Economic Growth 21
3.4 Taxes 25
3.4.1 VAT 26
3.4.2 Income and Corporate Taxes 26
4 COMMONWEALTH INDEPENDENT STATES (CIS) AND CENTRAL-EAST EUROPE (CEE) POWER MARKET 27
4.1 General Electricity Market information 27
4.2 Photovoltaics (Solar PV) in Energy Sector 34
4.3 Single Electricity Market of European Union 37
4.4 CIS States Common Electricity Market (CIS CEM) 40
4.5 Electricity Market Concept of Eurasian Economic Union 40
5 COMMONWEALTH INDEPENDENT STATES (CIS) PHOTOVOLTAIC (SOLAR PV) POWER MARKET 41
5.1 Market Overview 41
5.2 Cumulative (CAGR) Installed Photovoltaic (Solar PV) Capacity and Revenue 42
5.3 Annual Installed Photovoltaic (Solar PV) Capacity 43
5.4 Future Development Trends 44
6 UZBEKISTAN POWER MARKET 45
6.1 Electricity Transmission and Distribution 45
6.2 Electricity Consumption and Generation 47
6.3 Electricity Imports and Exports 49
6.4 Electricity Prices for Business and Households 51
6.5 Renewable Energy Sources (RES) Targets 52
7 UZBEKISTAN PHOTOVOLTAIC (SOLAR PV) POWER MARKET 54
7.1 Why Invest in Photovoltaic (Solar PV) Power in Uzbekistan? 54
7.2 Uzbekistan Solar Resource Potential 55
7.3 Licensing Period Duration 57
7.4 Regional Substation Capacities for Solar PV Power Projects in Uzbekistan 57
7.5 Overview of Photovoltaic (Solar PV) Power Market in Uzbekistan 57
7.6 Market Structure Analysis 59
7.7 Investment Trends and Development Roadmap 59
7.8 Competitive Environment in Photovoltaic (Solar PV) Power Market 59
7.9 Profiles of Key Players and Investors in Photovoltaic (Solar PV) Power Market 61
7.10 Cumulative (CAGR) Installed Photovoltaic (Solar PV) Capacity and Revenue 61
7.11 Annual Installed Photovoltaic (Solar PV) Capacity 63
7.12 Market Prices for Photovoltaic (Solar PV) Power Projects in Uzbekistan in Development, Ready to Build and Operational (Grid Connected) Condition 63
7.13 Key Cost Structure Elements of Photovoltaic (Solar PV) Power Plant in Uzbekistan 64
7.14 Levelized Cost of Energy (LCOE) for Photovoltaic (Solar PV) Power in Uzbekistan 64
7.15 Key Photovoltaic (Solar PV) Power Projects in Uzbekistan Under Development 65
7.16 Mergers and Acquisitions 69
8 DRIVERS AND CONSTRAINTS OF PHOTOVOLTAIC (SOLAR PV) MARKET IN UZBEKISTAN. SWOT ANALYSIS 71
8.1 Market Drivers 71
8.2 Market Drivers Explained 71
8.3 Market Constraints 71
8.4 Market Constraints Explained 71
8.5 SWOT Analysis 72
9 FINANCIAL ANALYSIS OF PHOTOVOLTAIC (SOLAR PV) MARKET IN UZBEKISTAN 75
9.1 Financing Options of Photovoltaic (Solar PV) Power Projects in Uzbekistan 75
9.2 Financial Model and Analysis of 50 MW Photovoltaic (Solar PV) Power Plant investment in Uzbekistan (IRR, WACC, Payback, NPV, Cash Flow, ETC.) 80
10 TECHNOLOGY ANALYSIS 83
10.1 Photovoltaic (Solar PV) Technology Overview 83
10.2 Technology Trends 84
11 CIS COUNTRIES RENEWABLE ENERGY POLICY LANDSCAPE 87
11.1 RES Regulations and Directives of European Union (EU) affecting CIS countries 87
11.1.1 Precedent Regulations 87
11.1.2 EU 2030 Framework for Climate and Energy Policies 88
11.1.3 EU Energy Roadmap 2050 91
11.2 RES Strategy for CIS Countries Developed by UN ECE 93
11.2.1 Development of Educational Activity and Personnel Training 94
11.3 Renewable Energy Sources (RES) Mandatory Targets for CIS Countries 95
12 UZBEKISTAN RENEWABLE ENERGY SOURCES (RES) LEGAL AND REGULATORY FRAMEWORK 97
12.1 Main Laws and Regulations 97
12.2 Support Schemes 98
12.3 Recent and Pending Changes in Renewable Energy Law in Uzbekistan 99
12.4 Auction (Tender) Procedure for Photovoltaic (Solar PV) Power Plants 99
12.5 Zoning, Planning and Construction Related Authorizations 100
12.6 Environmental Related Authorizations 101
12.6.1 Environment Protected Areas 101
12.6.2 Clean Development Mechanism (CDM) and Joint Implementation (JI) 102
12.7 Energy Law Authorizations 103
12.7.1 Power Generation Licensing 103
12.7.2 Grid Interconnection and quota limitations by 2020 104
12.7.3 Power Off-Take 104
12.7.4 Feed-in tariff (FIT) 104
12.7.5 RES Certificates (Guarantees of Origin) 106
12.8 Additional Incentives for Photovoltaic (Solar PV) Power Projects in Uzbekistan 106
12.9 Future Market Pricing Mechanisms 106
13 KEY STAKEHOLDERS AFFECTING PHOTOVOLTAIC (SOLAR PV) POWER MARKET DEVELOPMENT IN UZBEKISTAN 107
13.1 Government Stakeholders 107
13.2 Non-Government Stakeholders 109
13.3 Electricity Generation, Transmission System Operator (TSO) and Distribution System Operators (DSO’s) 109
14 CONCLUSIONS AND RECOMMENDATIONS 114
15 LIST OF ABBREVIATIONS 117
16 REFERENCES 119
17 DISCLAIMER 122
APPENDIX I. SOLAR MAPS OF CIS COUNTRIES AND UZBEKISTAN 123
- Map 1: Where is Uzbekistan on the CIS Countries Map 16
MAP 2: Major Transport Corridors Passing Through Uzbekistan 17
MAP 3: Uzbekistan Administrative Regions Map 18
MAP 4: The Synchronous Grids of Europe and CIS States 27
MAP 5: Interconnection Grid Map of Central-East Europe and CIS States 28
Map 6: Electricity Grid Map of Uzbekistan 47
Map 7: Solar Resource Map of Uzbekistan 55
MAP 8: Environment Protected Areas in Uzbekistan 102
Map 9: Uzbekenergo Distribution Territory 113
Map 10: Solar Irradiation and Solar Electricity Potential for Horizontally Mounted Photovoltaic Modules in Europe and CIS countries 123
Map 11: Solar Irradiation and Solar Electricity Potential for Optimally Inclined Photovoltaic Modules in Europe and CIS Countries 124
Chart 1: Uzbekistan Real GDP Growth for the Period 2007 ÷ 2027 (including forecast) 23
Chart 2: Uzbekistan GDP Growth Compared to EU-27 for the Period 2007 ÷ 2027 (including forecast) 25
Chart 3: Corporate Tax Income in Selected Central-East Europe (CEE) and Commonwealth Independent States (CIS) 26
Chart 4: Physical Energy Flows Values in GW in Central-East Europe (CEE) and Commonwealth Independent States (CIS) in 2018 29
Chart 5: Share of Renewables in Electricity Generation in Selected Central-East Europe (CEE) Countries and Commonwealth Independent States (CIS), 2018 (in %) 31
Chart 6: Average Base Load Electricity Price in Selected European Countries (EUR/MWh): 2008 - 2018 32
Chart 7: Forecast for RES Generation Capacity by Source Type in the EU to 2020 and 2030 (in GW) 33
Chart 8: Net Power Generation Added Capacities in the EU 28 in 2018 (MW) 34
Chart 9: Age of Power Plants in Europe in 2018 35
Chart 10: Share of New Power Generation Capacities Added in the EU 28 in 2018 (MW) 36
Chart 11: Installed Power Generating Capacity per Year (MW) and Renewable Share (in %) 2000 – 2018 36
Chart 12: New Installed and Decommissioned Power Generation Capacity in the EU 28 for 2018 (GW) 37
Chart 13: Cumulative (CAGR) Installed Capacity of Photovoltaic (Solar PV) Power Plants (in MW) in Commonwealth Independent States (CIS) 2007 ÷ 2027, including forecast 42
Chart 14: Cumulative (CAGR) Revenue of Photovoltaic (Solar PV) Power Plants (in Millions USD) in Commonwealth Independent States (CIS) 2007 ÷ 2027, including forecast 43
Chart 15: Annual Installed Capacity of Photovoltaic (Solar PV) Power Plants (in MW) in Commonwealth Independent States (CIS) 2007 ÷ 2027, including forecast 43
Chart 16: Existing and Planned High Voltage Interconnection Power Lines of Uzbekistan with Neighbor Countries 45
Chart 17: Structure of Uzbekistan Power Market 46
Chart 18: Share of RES electricity from Total Installed Power Capacity in Uzbekistan in 2018 48
Chart 19: Uzbekistan Total Annual Electricity Consumption (in TWh) 2000 ÷ 2018 49
Chart 20: Uzbekistan Power Generation Capacity Breakdown by Source (Fuel) Type in 2018 49
Chart 21: Electricity Imports and Exports in Uzbekistan 2007 ÷ 2027 (in TWh) including forecast 50
Chart 22: Uzbekistan Renewable Energy Sources (RES) Targets (in %) 53
Chart 23: Cumulative (CAGR) Installed Capacity of Photovoltaic (Solar PV) Power Plants in Uzbekistan (in MW) 2007 ÷ 2027, including forecast 62
Chart 24: Cumulative (CAGR) Revenue of Photovoltaic (Solar PV) Power Plants in Uzbekistan (in Millions USD) 2007 ÷ 2027, including forecast 62
Chart 25: Annual Installed Capacity of Photovoltaic (Solar PV) Power Plants in Uzbekistan (in MW) 2007 ÷ 2027, including forecast 63
Chart 26: Levelized Cost of Energy (LCOE) for Photovoltaic (Solar PV) Power in Uzbekistan 65
Chart 27: GEFF Structure 76
Chart 28: Cumulative Cash Flows and Break-Even Point of 50 MW Photovoltaic (Solar PV) Power Plant Investment in Uzbekistan 82
Chart 29: Photovoltaic (Solar PV) System Price Evolution (€/Wp) 1990 ÷ 2018 85
Chart 30: Corporate Structure of Uzbekenergo 110
Table 1: Electricity Prices for Business and Households 51
Table 2: Support Schemes for Renewable Energy Sources (RES) Generation in the EU Countries and CIS Countries 54
Table 3: Market Prices for Photovoltaic (Solar PV) Projects in Uzbekistan for 2018 ÷ 2027 in Development, Ready to Build and Operational (Grid Connected) Condition (2018 Update) 64
Table 4: Key Cost Structure Elements of Photovoltaic (Solar PV) Power Plant in Uzbekistan 64
Table 5: Database with Major Operational (Grid Connected), Under Construction and Planned Photovoltaic (Solar PV) Projects in Uzbekistan 67
Table 6: Key Financial Parameters of 50 MW Photovoltaic (Solar PV) Power Plant Investment in Uzbekistan 81
Table 7: Key Financial Viability Indicators of 50 MW Photovoltaic (Solar PV) Power Plant Investment in Uzbekistan (IRR, NPV, Payback, Benefit-Cost) 81
Table 8: Project Costs and Savings (Income) Summary of 50 MW Photovoltaic (Solar PV) Power Plant Investment in Uzbekistan 82
Table 9: Yearly Cash Flows of 50 MW Photovoltaic (Solar PV) Power Plant Investment in Uzbekistan (Pre-tax, After-tax, Cumulative) 82
Table 10: Crystalline Module Price Trend in 2018 86
Table 11: Feed-in-tariffs for Electricity from Renewable Energy Sources (RES) in Uzbekistan 105
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