Document from CIS Legislation database © 2003-2021 SojuzPravoInform LLC

RESOLUTION OF THE PRESIDENT OF THE REPUBLIC OF UZBEKISTAN

of February 23, 2021 No. PP-5003

About measures for implementation of the Investment project "Construction of Windfarm Capacity of 500 MW in Gizhduvansky District of the Bukhara Region"

For the purpose of ensuring development of renewable energy, reduction of consumption of natural gas in case of production of electrical energy, production diversification, and also broad attraction of direct foreign investments in electric power industry:

1. Take into consideration that:

a) the International Company for water and power projects company (Saudi Arabia) (further - the Investor) within the Investment project "Construction of Windfarm Capacity of 500 MW in Gizhduvansky District of the Bukhara Region" (further - the Investment project) in the Republic of Uzbekistan founds ACWA Power Bash Wind LLC (further - the Project company);

b) between the Government of the Republic of Uzbekistan on behalf of the Ministry of investments and foreign trade, the Investor and the Project company the Investment agreement (further - the Investment agreement) providing capture by the Investor and the Project company of obligations, according to which is signed on January 24, 2021:

designing, financing, construction and operation of windfarm capacity of 500 MW in Gizhduvansky district of the Bukhara region (further - VES) are performed throughout the entire period of implementation of the Investment project;

attraction of direct foreign investments on the amount on predesigns of 650 million US dollars is performed with acceptance of possible risks on itself;

c) as a result of direct negotiations between JSC Natsionalnye elektricheskiye seti Uzbekistana and the Project company the Purchase agreement of electrical energy (further - the Purchase agreement of electrical energy) on January 24, 2021 is signed according to which:

The project company assumes obligation of the guaranteed sale of the made electrical energy to the single buyer on behalf of JSC Natsionalnye elektricheskiye seti Uzbekistana;

The project company provides the bank guarantee on proper execution of the obligations in the period of construction in the amount of 18 million US dollars;

The investor and the Project company within the Investment project perform construction of overhead power transmission lines and other electric constructions for connection of VES to single network of the electric power, JSC Natsionalnye elektricheskiye seti Uzbekistana - covers the expenses spent for the specified works within 10 years on the basis of monthly payments;

JSC Natsionalnye elektricheskiye seti Uzbekistana assumes obligation of the guaranteed purchase of electrical energy within 25 years and implementation of payment for electrical energy in national currency.

2. Approve the Investment agreement signed between the Government of the Republic of Uzbekistan on behalf of the Ministry of investments and foreign trade, the Investor and the Project company.

Determine that the Investment agreement becomes effective on the basis of the conditions specified in it.

3. Approve the Purchase agreement of electrical energy signed as a result of carrying out direct negotiations between JSC Natsionalnye elektricheskiye seti Uzbekistana and the Project company.

4. Determine that according to the Investment agreement and the Purchase agreement of electrical energy for the term of their action the flat fare on purchase of electrical energy denominated in foreign currency is established.

5. Provide to the Ministry of investments and foreign trade, JSC Natsionalnye elektricheskiye seti Uzbekistana and khokimiyat of the Bukhara region the right to the conclusion with the Investor, the Project company and creditors who are taking part in financing of the Investment project, agreements on concession of the rights of the Project company and the Investor to the creditors in case of non-execution of agreement obligations by the Project company signed within implementation of the Investment project.

6. Resolve JSC Natsionalnye elektricheskiye seti Uzbekistana according to the Purchase agreement of electrical energy:

attraction together with the Project company of the international independent engineering companies according to the procedure established in the Purchase agreement of electrical energy;

the conclusion in accordance with the established procedure in frames of the Investment project according to the procedure of exception of direct agreements with the international independent engineering companies without conducting obligatory examination and registration;

opening of the confirmed in foreign currency, renewable letter of credit of commercial bank of the Republic of Uzbekistan for benefit of the Project company as ensuring obligation fulfillment on covering of purchase by the made Project company of electrical energy for three months.

7. Permit the Project company according to the Investment agreement within implementation of the Investment project:

open bank accounts in foreign banks for crediting, obtaining and use of foreign currency cash (including, in addition, receipts of borrowing facilities in foreign currency);

receive borrowing facilities in foreign currency on bank accounts abroad;

accept foreign currency cash according to loan agreements and intermediate loan agreements signed with members of the Project company before the expiration of the warranty period established in the agreement (ERS-contract) signed with the prime contractor within the Investment agreement;

make payments to foreign contractors, suppliers or foreign creditors outside the Republic of Uzbekistan directly from bank accounts abroad.

8. To khokimiyat of the Bukhara region (B. K. Zaripov) together with the Ministry of Agriculture (Zh. A. Hodzhayev) in a month in accordance with the established procedure to sign the agreement on transfer of the earth to the Project company on the terms of the Investment agreement and the Purchase agreement of electrical energy with allocation of the parcel of land for the term of implementation of the Investment agreement.

At the same time to exempt the Project company from compensation of losses of agricultural and forestry and landscape production (compensation payments) within implementation of the Investment project.

9. (R. K. Davletov) to issue to the Ministry of Justice the legal conclusion under the Investment agreement within implementation of the Investment project.

10. To the ministry of investments and foreign trade (Sh. A. Vafayev) to establish constant control behind implementation of the Investment project and execution of obligations by the parties within the Investment agreement and the Purchase agreement of electrical energy.

11. To the Ministry of Foreign Affairs (A. H. Komilov) based on requests of the Project company in accordance with the established procedure to provide execution (prolongation) of entrance visas to the foreign specialists who are taking part in implementation of the Investment project and members of their families.

12. To the Ministry of Internal Affairs (P. R. Bobozhonov) based on requests of the Project company in accordance with the established procedure to provide registration, issue (prolongation) of multi-visas, and also temporary registration in the place of temporary residence and its prolongation to the foreign specialists who are taking part in implementation of the Investment project and members of their families.

Warning!!!

This is not a full text of document! Document shown in Demo mode!

If you have active License, please Login, or get License for Full Access.

With Full access you can get: full text of document, original text of document in Russian, attachments (if exist) and see History and Statistics of your work.

Get License for Full Access Now

Disclaimer! This text was translated by AI translator and is not a valid juridical document. No warranty. No claim. More info

Effectively work with search system

Database include more 50000 documents. You can find needed documents using search system. For effective work you can mix any on documents parameters: country, documents type, date range, teams or tags.
More about search system

Get help

If you cannot find the required document, or you do not know where to begin, go to Help section.

In this section, we’ve tried to describe in detail the features and capabilities of the system, as well as the most effective techniques for working with the database.

You also may open the section Frequently asked questions. This section provides answers to questions set by users.

Search engine created by SojuzPravoInform LLC. UI/UX design by Intelliants.