Demand for electricity in the region will grow faster than in previous years

According to data from the Eurasian Development Bank, electricity consumption in Central Asian countries is projected to grow at an accelerated rate against the backdrop of an existing shortage.

According to the bank’s estimates, while average annual demand growth stood at 3.2% between 2014 and 2024, it will accelerate to 5.4% per year between 2024 and 2030. Consequently, the load on the region’s power systems will increase at a faster rate than before.

According to the forecast, total electricity consumption in the region will grow significantly by 2030 compared to current levels. At the same time, a number of countries are already facing a power shortage, especially during peak periods.

The EDB identifies several key drivers of demand growth. These include the development of energy-intensive industries, population growth and urbanization, as well as the digitalization of the economy. Additional pressure on power systems is exerted by the expansion of data centers, the development of cryptocurrency mining, and the growth of the electric transportation sector.

Under these conditions, the bank estimates that countries in the region will need to rapidly expand generating capacity and modernize infrastructure to avoid a worsening electricity shortage.