Uzbekistan has approved the construction of two 250-MW wind power plants at a cost of $250mn in the Samarkand and Jizzakh regions by China’s Universal Energy, according to presidential resolutions published on Lex.uz on May 7.
An agreement for the plants was signed during Uzbek President Shavkat Mirziyoyev's official visit to China in late January.
Uzbekistan’s National Electric Grids had previously inked agreements with Universal Energy for the procurement of electricity spanning a 25-year horizon, commencing October 2023.
Each wind farm will come with essential infrastructure, such as power transmission lines.
Universal Energy has entrusted its subsidiaries, Peak Wind Alpha and Peak Wind Beta, with project execution. The subsidiaries have secured $18mn in guarantees from a foreign bank.
Under the contractual framework, electricity purchases and construction-related activities will be remunerated in Uzbekistani som (UZS), adhering to a fixed tariff indexed to FX.
Related Articles
Dongfeng expands China’s EV push in South Africa with four-brand launch targeting middle-class buyers
China’s Dongfeng Motor, the smallest of the country’s “Big Four” automakers, has launched four new electric-vehicle brands in South Africa as it seeks to capture middle-income consumers in ... more
Kenya deepens development ties with China as US funding wanes
Kenya is leaning more heavily on Chinese development financing as support from some traditional Western partners — notably the United States — has weakened in recent years, Daily Nation reported. ... more
UAE: TA'ZIZ signs petchem supply deal with India’s Sanmar Group
TA’ZIZ has announced the signing of two-product sale agreement term sheets with India’s Sanmar Group, a global manufacturer of specialty chemicals. ... ... more
Most Read
-
India’s smart metering push gains momentum
4 months ago
-
The birth of a Kazakh banking empire: ATF Bank
3 years ago