The government of Uzbekistan is expanding support for projects for the construction of new small hydroelectric power stations on the rivers of the republic. Now the country’s commercial banks can issue so-called «green» consumer loans for the construction of hydroelectric power plants.
At the end of last year, a resolution of the Cabinet of Ministers dated December 27, 2024 was adopted № 894 «On introducing amendments and additions to some decisions of the Government of the Republic of Uzbekistan in connection with the expansion of the use of renewable energy sources and the systematic implementation of tariff reform».
The document introduces amendments and additions to five legislative acts of the Government of Uzbekistan, providing for:
- support for entrepreneurs involved in the production of renewable energy installations;
- increase in consumer loans issued by commercial banks «green» and compensation payments by part of the interest on them.
So, if previously «green» consumer loans were allocated to individuals in national currency only for the installation of solar photovoltaic and wind power plants, as well as solar water heaters, then from now on they will also be allocated for installation:
- micro and small hydroelectric power plants;
- biogas production equipment;
- biogas plants;
- heat pumps;
- as well as the purchase of construction insulating materials, household energy-efficient gas burner installations and boilers.
The condition that the interest rate «green» of consumer loans should not exceed 1.5 of the main rate of the Central Bank of Uzbekistan in order to receive compensation to cover part of the interest rate exceeding the main rate of the Central Bank has also been abolished.
Changes and additions made to:
- Regulations on the Ministry of Energy of the Republic of Uzbekistan (annex to the Resolution of the PCM dated 02/09/2019 № 108);
- Regulations on the extra-budgetary intersectoral energy saving fund under the Ministry of Energy of the Republic of Uzbekistan (appendix to the PCM dated 10/09/2020 № 640);
- Regulations on the procedure for the population to purchase renewable energy installations produced by domestic producers, with reimbursement of part of the costs of their purchase or in installments (Appendix № 1 to the PCM dated 10/05/2022 № 568);
- Regulations on the procedure for reimbursement of part of interest payments on «Green» consumer loan (Appendix № 1 to the PCM dated September 29, 2023 № 517);
- Rules for the use of electrical energy and natural gas (PCM dated May 31, 2024 № 319).
The document was published in the National Database of Legislation of Uzbekistan and came into force on December 30, 2024.
