Aksa Elektrik to invest up to $1 billion in Samarkand's grid

Aksa Elektrik to Invest Up to $1 Billion in Samarkand's Power Grid

Tashkent, Uzbekistan (UzDaily.uz) —

Turkish company Aksa Elektrik intends to invest up to $1 billion in modernizing the Samarkand region's power distribution grid. The investment will be made over the 30-year project period, according to the company's 2025 annual report.

According to the Ministry of Energy, the private partner is committed to investing at least $350 million in the first 10 years of the project.

The project is being implemented as a public-private partnership. Aksa Elektrik won the 30-year right to operate the Samarkand region's power distribution grid following an international tender.

In its annual report, the company states that it will begin its international operations in 2026, beginning with operations in the Samarkand region. The project will serve approximately 1 million consumers.

Energy Minister Sherzod Khodjayev previously emphasized that the Turkish company's investment volume would be strictly defined, and Aksa Elektrik would be required to contribute no less than the established amount. At that time, the exact investment amount was not disclosed.

In 2024, Aksa Elektrik signed a memorandum of understanding with Regional Electric Grids (REG), providing for the modernization of distribution networks through a public-private partnership. In 2025, the Turkish company won the tender for the 30-year operation of the Samarkand region's grids.

The project stipulates that at least 90% of the products used in the construction, reconstruction, and modernization of the grids must be purchased domestically from local manufacturers.

All employees of REG will be employed by Aksa Elektrik. According to Khodjayev, only 10-15 foreign specialists are planned to be hired, while the remaining work will be carried out jointly with local staff.

The Turkish company is also obligated to train its employees, improve their skills, and familiarize them with the technologies being implemented.

This project marks the first time in Uzbekistan that distribution networks have been transferred to the private sector with the obligation to invest in their development. Khodjaev previously reported that, based on this experience, similar work is planned for other regions of the country.

Aksa Elektrik specialists have already begun work in the Samarkand region. After studying the network conditions, they selected 400 microprojects, which they plan to implement first over the next two years. On average, one such project corresponds to one mahalla.