Uzbekistan will allocate US$15.4bn to the development and building of these renewable projects.

The new agreement lays the foundations of an "exclusive strategic alliance for the development of new uranium mines in Uzbekistan, beyond the Djengeldi project" and is a "significant broadening of the scope of the collaboration", Orano said.

Uzbekistan is the world’s seventh-ranking uranium supplier, according to World Nuclear Association, and was a significant source of Russian uranium supply until it gained independence in 1991.

The country aims to raise the solar and wind capacity to 8,000 MW by 2026.

Solar and wind currently account for less than 1% of the country’s installed capacity, with 4 MW and 1 MW, respectively.

ACWA Power has signed an implementation agreement with the Ministry of Investments and Foreign Trade and the Ministry of Energy of Uzbekistan to build a 1.5 GW wind project in Karakalpakstan, in western Uzbekistan.

The two wind power plants, which will be powered by 200 turbines, have a total investment value of US$1.3bn.

Uzbekistan set an ambitious goal of reaching 3 GW wind and 5 GW solar power capacities by 2030. In light of recent developments, these goals look quite achievable.

Four projects aimed at building up Uzbekistan's technical capacity, human resources, developing nuclear infrastructure, and strengthening nuclear and radiation safety have been approved by the International Atomic Energy Agency's (IAEA's) board of governors. The Central Asian country aims to have two nuclear power reactors in operation by 2030.

The World Bank has rapidly scaled up its support to Uzbekistan since the start of the country’s social and economic transformation in 2017. The World Bank program in Uzbekistan is among its largest in the Europe and Central Asia region, with 22 projects totaling $4.08 billion. The program is focusing on economic and institutional reforms, agriculture, health, education, water supply and sanitation, energy, transport, social protection system, and urban development.