Document from CIS Legislation database © 2003-2021 SojuzPravoInform LLC

RESOLUTION OF THE PRESIDENT OF THE REPUBLIC OF UZBEKISTAN

of July 24, 2021 No. PP-5195

About measures for the organization of construction of gas-piston power plant capacity of 174 MW in the Khorezm region

For the purpose of increase in electricity generating capacity with attraction of direct foreign investments in electric power industry, and also stable providing the population and industries of economy with energy resources:

1. Take into consideration that:

a) between the Government of the Republic of Uzbekistan on behalf of the Ministry of investments and foreign trade and the Hidro Enerji Elektrik Uretim Sanayi A.S. company (Republic of Turkey) (further - the Investor) implementation of the investment project on construction of gas-piston power plant by capacity of 174 MW in the Khorezm region is planned (further - the Investment project);

b) for the purpose of implementation of the Investment project by the Investor Odas Enerji SA LLC is created (further - the Project company);

c) between the Government of the Republic of Uzbekistan on behalf of the Ministry of investments and foreign trade, the Investor and the Project company sign on March 4, 2021 the investment agreement (further - the Investment agreement) according to which the Investor and the Project company perform:

designing, financing, construction and operation within 25 years of gas-piston power plant capacity of 174 MW in the Khorezm region;

attraction of direct foreign investments in the amount of 105 million US dollars with acceptance on possible risks;

d) within the Investment project between JSC Natsionalnye elektricheskiye seti Uzbekistana and the Project company the Purchase agreement of the electric power (further - the Purchase agreement of the electric power) on March 4, 2021 is signed according to which:

The project company as ensuring execution of the obligations up to standard in the period of construction provides the bank guarantee in the amount of 1, to 3 million US dollars;

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

JSC Natsionalnye elektricheskiye seti Uzbekistana in accordance with the terms of the Purchase agreement of the electric power assumes obligation of the guaranteed purchase of electrical energy and implementation of payment for electrical energy in national currency within 25 years;

JSC Natsionalnye elektricheskiye seti Uzbekistana as ensuring execution of the obligations on covering of purchase of electrical energy provides for benefit of the Project company the preferential, unconditional, not subject to compensation bank guarantee in foreign currency within three months.

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 according to the conditions specified in it.

3. Approve the Purchase agreement of the electric power signed within the Investment project by results of direct negotiations between JSC Natsionalnye elektricheskiye seti Uzbekistana and the Project company.

4. Permit the Ministry of investments and foreign trade, JSC Natsionalnye elektricheskiye seti Uzbekistana:

provide the confirmed in foreign currency, renewable, irrevocable and unconditional bank guarantee of JSB Uzsanoatkurilishbank for benefit of the Project company as ensuring obligation fulfillment on covering of purchase of the electrical energy developed by the Project company within three months;

take part in quality of the supplier of natural gas for requirement of the Investment project, and also according to the Investment agreement and the Purchase agreement of the electric power for the term of their action, to establish the prices of the electrical energy made in the territory of the Republic of Uzbekistan, with binding to foreign currency.

5. Provide to JSC Uztransgaz the conclusion with JSC Natsionalnye elektricheskiye seti Uzbekistana of delivery agreements of natural gas of the Project company according to the amounts and parameters provided in the Purchase agreement of the electric power.

At the same time to determine that suppliers of natural gas if other is not provided by the agreement, bear responsibility in recourse procedure to JSC Natsionalnye elektricheskiye seti Uzbekistana according to the legislation according to obligations on compensation of JSC Natsionalnye elektricheskiye seti Uzbekistana of the Project company of the caused losses, including any obligations on payment of penalties and amounts of lost profit, resulting from lack of supply of natural gas because of JSC Uztransgaz.

6. To provide to the ministry of water economy the conclusion of delivery agreements of the Project company of technical water according to the amounts and parameters provided in the Purchase agreement of the electric power.

7. Permit the Project company to exercise within implementation of the Investment project control of expenditure of borrowing facilities according to the requirements of risk management which are traditionally applied by foreign creditors when financing projects, to open bank accounts abroad in foreign banks for obtaining and use of means in foreign currency with implementation of payment of all taxes and fees which are subject to payment and also to transfer money from the bank accounts opened in the republic for the bank accounts opened abroad for the purpose of return of the credits obtained within the Investment project.

8. To khokimiyat of the Khorezm region in a month on the conditions specified in the Investment agreement and the Purchase agreement of the electric power to provide allocation to Agency on management of the state assets of the parcel of land on the right of permanent use.

To provide to agency on management of the state assets provision of the parcel of land allocated according to this Item in lease of the Project company for the term equal to the term of implementation of the Investment project.

9. Issue to the Ministry of Justice the legal conclusions under the agreements signed within implementation of the Investment project according to rules of the Investment agreement.

10. In accordance with the established procedure to provide to the state committee on ecology and environmental protection conducting the state environmental assessment of the project documentation and observance of the nature protection legislation in case of implementation of the Investment project.

11. According to requirements (requests) of the Project company:

To the Ministry of Foreign Affairs provide in accordance with the established procedure execution (prolongation) of entrance visas to the foreign specialists involved within implementation of the Investment project and also members of their families;

To the Ministry of Internal Affairs provide in accordance with the established procedure registration, issue (prolongation) of multi-visas, temporary registration in the place of temporary stay and its prolongation to the foreign specialists participating in implementation of the Investment project and also members of their families.

12. Assign to the Minister of Energy A. S. Sultanov the personal responsibility for the effective organization of execution of this resolution, and also supply of natural gas in the amounts and parameters required the Project company.

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