President of Uzbekistan, Shavkat Mirziyoyev, has endorsed an agreement for the establishment of a 263-megawatt solar photovoltaic power plant in the Bukinsky district of the Tashkent region, led by the Chinese corporation, China Datang Overseas Investment.
The agreement, inked during a high-profile business summit held in China on January 25, coincided with President Mirziyoyev's official visit. This endeavor is set to be facilitated through collaborations with MIPT and National Electric Grids.
To accommodate the extensive infrastructure required for the solar power plant, a sprawling plot of land spanning 621 hectares has been allocated in the Buka district of Tashkent. The project's estimated cost stands at approximately $150mn, with China Datang Overseas Investment committing an additional $12mn as a bank guarantee to ensure the project's security.
Under the terms of the agreement, transactions related to electricity purchase and power line construction will be conducted in Uzbekistani soums (UZS) at a fixed tariff denominated in foreign currency, aiming to streamline financial operations between the involved parties. Additionally, China Datang Overseas Investment has been granted permission to establish foreign bank accounts to facilitate foreign exchange transactions, further easing financial processes.
This initiative comes on the heels of another energy agreement endorsed by President Mirziyoyev earlier in May, wherein plans for the construction of two wind farms with a combined capacity of 250 megawatts in the Samarkand and Jizzakh regions were approved.
Spearheaded by Universal Energy, these projects underscore Uzbekistan's commitment to harnessing its abundant renewable energy resources to meet growing domestic demand and foster sustainable development.
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