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2026
III International Bioeconomy Forum: Special Issue

V-SEKSIYA - SIRKULYAR IQTISODIYOT VA QAYTA TIKLANUVCHI ENERGIYA MANBALARINI INTEGRATSIYALASH IMKONIYATLARINI OSHIRISH

PUBLIC-PRIVATE PARTNERSHIP AS A MECHANISM FOR DEVELOPING RENEWABLE ENERGY INFRASTRUCTURE: AN ANALYSIS OF UZBEKISTAN’S PPP PORTFOLIO

DOI 10.67668/mj/2026issmaxsus/2064 Pages 44-54

Published 2026-09-25

Authors
Mustafaev Quvonchbek Mukhtorovich
Affiliation
Independent ( ) Institute of Macroeconomic and Regional Studies Ministry of Economy and Finance of the Republic of Uzbekistan
III Bioiqtisodiyot xalqaro forumi, Buxoro, 24-25-sentabr 2026
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Abstract

The article examines the role of the public-private partnership (PPP) mechanism in developing renewable energy infrastructure in Uzbekistan. The study draws on the PPP register as of 30 June 2026, the 2022 input-output table for 136 sectors and the IMF 2026 country report. Sectoral concentration of the portfolio is assessed with the Herfindahl-Hirschman index (HHI) and concentration ratios, while inter-sectoral effects of infrastructure sectors are measured with Type I multipliers derived from the Leontief model. The results show that energy accounts for 91.2 per cent of PPP portfolio value but only 2.0 per cent of the number of projects; the HHI of 8,347 indicates extremely high concentration. Electricity distribution (1.773) and generation (1.547) have output multipliers above the national average (1.508). Using the Nur Navoi solar plant as a case, the effect of concessional finance on the tender tariff is demonstrated: at a 3 per cent discount rate the LCOE matches the tender tariff ($0.02679/kWh), whereas at a commercial rate (8 per cent) it is almost 1.5 times higher. Recommendations are substantiated on diversifying the PPP portfolio, capping fiscal risks and shaping a tariff policy that accounts for concessional finance.

Keywords

public-private partnership, renewable energy sources, infrastructure investment, input-output table, multiplier, portfolio concentration, LCOE, fiscal risk

References

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