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    Uzbekistan World Economics

    Uzbekistan approves construction of 500 MW photovoltaic power plant in Namangan region

    Uzbekistan approves construction of 500 MW photovoltaic power plant in Namangan region

    Uzbekistan's President Shavkat Mirziyoyev issued a decree on May 25, approving an agreement with Hyper Partners to construct a photovoltaic power plant in the Namangan region, as it was disclosed in the docuement published on Lex.uz.

    Photo: Photovoltaic power plant
    Source: Acwa Power 

    The investment agreement with Next Solar Energy Group, a subsidiary of Hyper Partners, was signed in January. Four months earlier, Hyper Partners had agreed to sell the generated energy to the National Grid.

    The power plant will be located in the Papsky district, covering 1,200 hectares, and will have a capacity of 500 megawatts (MW). The project's preliminary investment is estimated at $350 mn, with a $30 mn contract guarantee from a first-class bank.

    Electricity purchases and construction of power lines will be paid in soums at a fixed tariff denominated in foreign currency. The company also received permission to open bank accounts in foreign banks for these payments.

    In May, the president approved two additional agreements for power plant construction, which were made during a January visit to China. Universal Energy intends to build two wind farms, each with a capacity of 250 MW, while China Datang will develop a 263 MW solar power plant near Buka.

    Uzbekistan intends to commission six sizable photovoltaic power plants in key areas such as Tashkent, Kashkadarya, Bukhara, Namangan, and Navoi by the conclusion of 2024, is it was disclosed in Uzbekistan-2030 strategy. With a collective capacity of 2,700 MW, these installations will play a substantial role in the country's endeavors to diversify its energy sources.

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    30.05.2024, 17:22   Comments (0)   2610
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