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
China’s CNOOC bypasses US and signs LNG deal with ADNOC amid escalating tariff war
State-run China National Offshore Oil Corporation (CNOOC) has come to agreement with Abu Dhabi National Oil Corp (ADNOC) to purchase LNG from the Gulf company, Reuters reported on April 21 ... more
Cracks appear in EU plan to adopt Japan-style LNG model
Proposal to adopt “Japanese model” of LNG investment unlikely to be approved given reselling challenges and climate commitments. WHAT: The EU’s Action Plan for Affordable Energy ... more
Kenya signs nuclear energy pact with Chinese firm
Kenya has signed a Memorandum of Understanding (MoU) with China Nuclear Engineering and Construction Corporation (CNECC) International Engineering Co to advance its nuclear energy programme, The ... more
Most Read
-
Kremlin demands sanctions relief in temporary Ukraine conflict ceasefire deal
1 month ago
-
Russian region bribes schoolgirls to get pregnant
1 month ago
-
No country has agreed to resettle Palestinians, says acting Israeli envoy to Russia
1 month ago
-
Who will be Serbia’s next prime minister?
1 month ago
-
Serbian biotech Dren Bio sold to Sanofi for $1.9bn
1 month ago