The Ministry of Investment, Industry, and Trade of Uzbekistan hosted the signing of an Investment Agreement for a major renewable energy project on November 29, 2024. Sinoma EC International, a leading Chinese energy company, will construct a 300 MW solar power plant and a 75 MW energy storage system in the Karmana district of the Navoi region.
The signing ceremony was attended by Laziz Kudratov, Minister of Investment, Industry, and Trade, and Zo Duyun, General Director of Sinoma EC International Investment.
This new project marks a significant milestone in Uzbekistan’s ongoing energy transformation. It supports the country's "Uzbekistan-2030" Strategy, which aims to increase the share of renewable energy sources to 25,000 megawatts, with a target to have renewable energy comprise 40% of total energy consumption.
Sinoma EC International Investment, a subsidiary of Sinoma Energy Conservation., has a long-standing history of energy development. Founded in 1987, the company has a capitalization of $600bn and employs over 2,000 people globally. Specializing in the construction of power plants utilizing renewable sources, such as solar, geothermal, and biomass, Sinoma has completed over 1,000 projects worldwide.
In April, Chinese investors were considering a $2bn investment to build a solar power plant in Uzbekistan's Ahangaran region. During a visit to China, Uzbek officials finalized agreements for the construction of power plants, with the Chinese side also allocating $20mn for a health resort development in the Zangiata district.
Earlier, Daryo reported that on April 20, Uzbekistan signed a trilateral Memorandum of Understanding (MOU) with Chinese company Yupont Group. The MOU focuses on installing solar panels at large industrial enterprises in Tashkent, collectively generating 100 megawatts (MW) of power, marking a key move towards increasing renewable energy capacity in the area.
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