RESOLUTION OF THE PRESIDENT OF THE REPUBLIC OF UZBEKISTAN

of June 14, 2023 No. PP-190

About measures for implementation of the investment project "Construction of the Solar Photo-electric Station Capacity of 500 MW in Karaulbazarsky District of the Bukhara Region"

For the purpose of diversification of sources of production of electricity, satisfaction of the increasing needs of the population and industries of economy for energy resources, reducing consumption of natural gas in case of power generation, and also broad attraction of direct foreign investments for expansion of scale of use of sources of renewable energy:

1. Take into consideration that:

a) between the Government of the Republic of Uzbekistan on behalf of the Ministry of investments, the industry and trade and the China Gezhouba Group Overseas Investment Co. LTD company (People's Republic of China) (further - the Investor) within the investment project "Construction of the Solar Photo-electric Station Capacity of 500 MW in Karaulbazarsky District of the Bukhara Region" (further - the Investment project) the investment agreement (further - the Investment agreement) providing implementation by the Investor is signed on April 29, 2023:

designings, financings, construction and operation of the solar photo-electric station capacity of 500 MW in Karaulbazarsky district of the Bukhara region throughout the entire period of implementation of the Investment project;

attraction of direct foreign investments in the amount of by provisional estimate of only 350 million US dollars with acceptance on possible risks;

b) between JSC Natsionalnye elektricheskiye seti Uzbekistana and the Investor the Purchase agreement of electrical energy (further - the Purchase agreement of electrical energy) according to which on April 29, 2023 is signed:

The investor under this agreement within the Investment project yields the rights and obligations for benefit of the Project company created by it (further - the Project company);

The project company assumes obligation of the guaranteed sale of the made electrical energy of JSC Natsionalnye elektricheskiye seti Uzbekistana;

JSC Natsionalnye elektricheskiye seti Uzbekistana performs construction and commissioning of overhead power transmission lines for connection of the solar photo-electric station to single electrical power network in the terms established by the Purchase agreement of electrical energy;

The project company provides guarantee of the first-class foreign bank as ensuring proper execution of the obligations in the period of construction in the amount of 30 million US dollars;

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

2. Within implementation of the Investment project:

approve the Investment agreement signed between the Government of the Republic of Uzbekistan on behalf of the Ministry of investments, the industry and trade and the Investor;

approve the Purchase agreement of electrical energy signed between JSC Natsionalnye elektricheskiye seti Uzbekistana and the Investor.

3. Determine that according to the Investment agreement and the Purchase agreement of electrical energy during the term of their action payments on purchase of the electric power and construction expenses of substation are performed on the flat fare denominated in foreign currency and paid in national currency.

4. Provide to the Ministry of investments, industry and trade, to the Department of Energy and JSC Natsionalnye elektricheskiye seti Uzbekistana it is right on the conclusion of agreements on direct assignment of rights of the Project company and the Investor to other creditors who are taking part in financing of the Investment project, in case of non-execution of agreement obligations by the Project company, signed within implementation of the Investment project.

5. Resolve JSC Natsionalnye elektricheskiye seti Uzbekistana:

carrying out together with the Project company of selection and the conclusion of agreements with the international independent engineering companies and other consultants for the purposes of implementation of the Investment project without conducting obligatory examination according to the procedures determined in the Purchase agreement of electrical energy;

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

6. Provide to the Project company within implementation of the Investment project after payment of all taxes and fees within financing of the Investment project the following rights:

open bank accounts in foreign banks abroad for receipt of the credits, obtaining and use of foreign currency cash (including credit receipts in foreign currency);

to directly make payments to foreign contract organizations, suppliers or foreign creditors outside the Republic of Uzbekistan without carrying out such payments through bank accounts in the Republic of Uzbekistan.

7. Determine that within the Investment project of regulation and the rule of accomplishment of the construction and land works connected with installation of photo-electric panels, and also designings of the bases of buildings and constructions are regulated by international standards according to provisions of the Purchase agreement of electrical energy.

8. Agree with the offer of the Ministry of Agriculture, Ministry of water economy, the Ministry of investments, the industry and trade and khokimiyat of the Bukhara region on transfer of 997 hectares of the parcels of land in the territory of Karaulbazarsky district of the Bukhara region allocated under implementation of the Investment project from category of lands of agricultural purpose in category of lands of industrial and other function according to appendix.

To return to committee on development of silkworm breeding and woolen industry together with khokimiyat of the Bukhara region in ten-day time the specified parcels of land in structure of lands of inventory of khokimiyat.

9. To khokimiyat of the Bukhara region to provide allocation to the Department of Energy of the parcels of land corresponding to the conditions specified in the Investment agreement and the Purchase agreement of electrical energy necessary for the solar photo-electric station, substation and overhead power transmission lines promoting ensuring its functioning with the right of permanent use in a month.

At the same time:

a) Provide to Department of Energy provision in lease of the corresponding parcels of land transferred to it based on this Item:

The project company - for construction of the solar photo-electric station for the period equal to the term of implementation of the Investment project;

JSC Natsionalnye elektricheskiye seti Uzbekistana - for construction of the servicing substation and overhead power transmission lines;

b) within implementation of the Investment project:

The Department of Energy is exempted from compensation of losses of agricultural production (compensation payments) for use of lands of agricultural purpose;

the amount of the rent paid by the Project company for the parcels of land is equated to the size of the land tax.

10. According to requests of the Project company to provide:

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