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Kazanci Holding, parent company of Turkish energy firm Aksa Enerji, plans to invest approximately $200 million in electricity distribution across Samarkand and three additional regions over the next two years.
The group aims to expand its distribution business through sister company Aksa Elektrik, which secured a 30-year contract to operate Samarkand's electricity distribution network, according to a company statement.
The investment seeks to modernize distribution networks, improve operational efficiency and provide consumers with more reliable, uninterrupted electricity, the statement added.
Aksa Enerji Chairman Cemil Kazanci met Uzbek President Shavkat Mirziyoyev on Oct. 16 in Tashkent on the sidelines of the inaugural meeting of energy-sector investors. During the gathering, Uzbekistan announced plans to establish a council to address investment bottlenecks and speed up energy projects.
Their discussions covered the group's existing investments, potential new partnerships and plans to modernize the country's electricity infrastructure, according to a company statement.
Mirziyoyev welcomed the proposed expansion of the group's electricity distribution operations into additional regions. Kazanci described Uzbekistan as a strategic market in the group's long-term international plans, pointing to the country's reform agenda and close ties between Türkiye and Uzbekistan.
Kazanci Holding aims to combine Aksa Enerji's power generation operations with its distribution capabilities to help modernize Uzbekistan's energy system, the company said.
Aksa Enerji operates power plants in Tashkent, Bukhara, and Talimarjan with a combined installed capacity of 1,220 megawatts, and Kazanci Holding has invested more than $700 million in the plants, according to the company's data.
The company operates four power plants in Uzbekistan: two in Tashkent, with a combined capacity of 492 megawatts, one in Bukhara with 298 megawatts, and one in Talimarjan with 430 megawatts. The Bukhara and Tashkent plants increased their capacities following modernization projects completed in November 2024.
Aksa Enerji's total installed capacity across all its operations reached 3,543 megawatts as of June 30, 2026, up from 3,058 megawatts at the end of 2025. Uzbekistan accounts for approximately 34.4% of the company's total installed capacity, making it one of Aksa Enerji's largest operating markets.
The company also operates power plants in Türkiye, Ghana, Kazakhstan, Northern Cyprus, Mali and the Republic of Congo.
Aksa Enerji reported revenue of ₺42.4 billion ($855.6 million) in 2025, while its strategic investments exceeded $1 billion over the 2023–2025 period.
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