According to reports from UZDAILY, Adani Group is in talks with the Uzbekistan government to develop four pumped-storage projects (PSPs) with a combined capacity of around 5 gigawatt (GW). Representatives of the Adani Group held talks in August with Uzbekistan government officials, including investment, industry and trade minister Laziz Kudratov, to discuss hydropower and PSP projects in the country. Using the Central Electricity Authority's (CEA) average cost of ₹6 crore per megawatt (MW) for setting up a PSP as a benchmark, the proposed capacity would translate into an indicative investment of ₹30,000 crore.
The talks come as Uzbekistan seeks to expand its renewable-energy capacity and diversify its power mix. During 2016-2025, the country's installed renewable power capacity increased from 1.88GW to more than 10GW, largely driven by solar power installations. Uzbekistan has committed to sourcing 50% of its electricity from renewables by 2030 and achieving net-zero emissions by 2050. The country also has significant untapped hydropower potential, with operational hydropower capacity around 2.5GW compared with estimated potential of up to 12GW.
During Prime Minister Narendra Modi's 29-30 August visit to the former Soviet republic, the two countries agreed to bolster cooperation in connectivity and clean energy. According to UZDAILY, Uzbekistan will likely be the first Central Asia country to implement pumped-storage hydropower projects, with a presidential resolution adopted in May envisaging three large PSPs in Uzbekistan by 2032. Rajan Kumar, professor at JNU's Centre for Russian and Central Asian Studies, noted that with growing Chinese influence in the region, it has become important for India to strengthen its presence in Central Asia.
The proposed Uzbek investment would extend Adani Group's push into hydropower and energy storage beyond India. According to reports, Adani Green Energy is currently developing around 3GW of PSP capacity in India across three projects in Andhra Pradesh and Maharashtra. Another 11 projects, with a cumulative capacity of 16.65GW, are under survey and investigation for approval from relevant authorities across multiple states. The group also has experience in hydropower outside India, with Adani Power commencing commercial operations of the 570MW Wangchhu hydroelectric project in Bhutan in January.
As reported by UZDAILY, Adani Group's venture in Uzbekistan would compete with international players like China's Huaneng Renewables and Poly Technologies, which have committed billions of dollars to Uzbeki's renewable projects. Other incumbents from Saudi Arabia and the United Arab Emirates are also active in the region. Mahesh Ranjan Debata, associate professor at JNU's Centre for Inner Asian Studies, noted that the venture would strengthen India's strategic relations with Uzbekistan and support India's aspirations for better regional energy trade and export in coming years.
