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Uzbekistan Approves 263MW Solar Plant Backed by Chinese Investment

President Shavkat Mirziyoyev of Uzbekistan has endorsed an agreement for the development of a 263-megawatt solar photovoltaic power plant in the Bukinsky district of the Tashkent region. This initiative is spearheaded by the Chinese corporation, China Datang Overseas Investment.

The agreement was formalized during a high-profile business summit in China on January 25, coinciding with President Mirziyoyev’s official visit. The project will be facilitated through collaborations with MIPT and National Electric Grids.

To accommodate the infrastructure required for the solar power plant, a substantial plot of 621 hectares has been allocated in the Buka district of Tashkent. The project’s estimated cost is approximately $150 million, with China Datang Overseas Investment providing an additional $12 million as a bank guarantee to ensure project security.

Under the terms of the agreement, transactions related to electricity purchases and power line construction will be conducted in Uzbekistani soums (UZS) at a fixed tariff denominated in foreign currency, aiming to streamline financial operations. 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 follows another energy agreement endorsed by President Mirziyoyev earlier in May, which includes plans for constructing two wind farms with a combined capacity of 250 megawatts in the Samarkand and Jizzakh regions. Spearheaded by Universal Energy, these projects underscore Uzbekistan’s commitment to leveraging its abundant renewable energy resources to meet growing domestic demand and promote sustainable development.

 

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