RESOLUTION OF THE PRESIDENT OF THE REPUBLIC OF UZBEKISTAN

of April 30, 2025 No. PP-158

About measures for implementation of the investment project "Construction of Solar Photopower Plant Capacity of 500 MW and Overhead Power Transmission Lines in Farishsky District of the Jizzakh Region"

For the purpose of stable providing with energy resources the population and industries of economy, reducing consumption of natural gas in case of power generation, and also active attraction of direct foreign investments to expansion of scale of use of renewable energy resources:

I. Production organization of electrical energy at solar photopower plants

1. Take into consideration that as a result of direct negotiations:

(a) the companies "China Electrical Equipment lnternational So. LTD" (People's Republic of China) and China Huadian Overseas Investment So. LTD (People's Republic of China) (further - Investors) within the investment project "Construction of Solar Photopower Plant Capacity of 500 MW and Overhead Power Transmission Lines in Farishsky District of the Jizzakh Region" (further - the Investment project) found Huadian Jizzakh Solar Power LLC (further - the Project company);

(b) between Investors, the Project company and the Government of the Republic of Uzbekistan on behalf of the Ministry of investments, the industry and trade signed on April 5, 2025 the investment agreement according to which Investors and the Project company perform designing, financing, construction and operation of solar photopower plant capacity of 500 MW in the Jizzakh region with attraction of direct investments in the amount of 2,08 of one billion Chinese yuans;

(c) between Investors and JSC Uzenergosotish the Purchase agreement of electrical energy, between the Project company and JSC Natsionalnye elektricheskiye seti Uzbekistana on April 5, 2025 - the Agreement on connection to networks on September 13, 2024 is signed (further - Agreements).

II. Obligations and privileges

2. Determine that according to the Purchase agreement of electrical energy:

(a) The investor yields to the Project company the rights and obligations;

(b) The project company enables the guaranteed realization of the made electric power of JSC Uzenergosotish;

(c) The project company within the Investment project builds overhead power transmission lines for connection of power plant to single electrical power network and performs their transfer to JSC Natsionalnye elektricheskiye seti Uzbekistana after commissioning;

(d) JSC Uzenergosotish conducts the guaranteed procurement of the electric power within 25 years and assumes obligation of implementation of payment with addition to the established rate of the construction expenses of overhead power transmission lines spent by the Project company to their full recovery and makes payments in national currency;

(e) payments on purchase of electrical energy, construction of substation and overhead power transmission lines are performed in national currency on the flat fare denominated in foreign currency;

(e) The project company provides guarantee of the first-class bank in the amount of 20 million US dollars as ensuring proper execution of the obligations in the period of construction;

(g) regulations and rules of accomplishment of the construction and land works connected with construction of solar photopower plant and also designings of the bases of buildings and constructions are regulated by international standards according to the agreement.

3. Permit:

(a) to involve with JSC Natsionalnye elektricheskiye seti Uzbekistana and JSC Uzenergosotish together with the Project company the international independent engineering companies and other consultants to implementation of the Investment project according to the procedures determined by Agreements with the conclusion of direct agreements;

(b) JSC Uzenergosotish to open the confirmed in foreign currency and renewable letter of credit of foreign bank for benefit of the Project company as ensuring obligation fulfillment on payment for the electrical energy made by the Project company within three months.

4. Equate the amount of the rent for the parcels of land paid by the Project company and JSC Natsionalnye elektricheskiye seti Uzbekistana to the size of the land tax.

III. Measures for acceleration of implementation of the Investment project

5. Within implementation of the Investment project:

(a) to approve the investment agreement signed between the Government of the Republic of Uzbekistan on behalf of the Ministry of investments, the industry and trade, Investors and the Project company;

(b) to approve the Agreements signed between JSC Uzenergosotish, JSC Natsionalnye elektricheskiye seti Uzbekistana, Investors and the Project company.

6. Determine that the Project company after payment of all taxes and fees within financing of the Investment project is granted the following rights:

(a) to open bank accounts in foreign banks abroad for receipt of the credits, obtaining and use of foreign currency cash (including the credits and other borrowed funds in foreign currency);

(b) 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. Agree with the offer of the Department of Energy, the Ministry of Agriculture, Ministry of water economy, the Ministry of Economics and finance, khokimiyat of the Jizzakh region on transfer in total 991,1 of hectare of the pasturable parcels of land in the territory of Farishsky district of the Jizzakh region allocated for implementation of the Investment project from category of lands of agricultural purpose in category of lands of the industry, transport, communication, defense and other appointment agrees prilozheniyu*.

8. To khokimiyat of the Jizzakh region:

(a) together with the Department of Energy, the Ministry of Agriculture, the Ministry of Economics and finance and the Project company if necessary to choose, bring amendments in borders of the parcels of land in the territory of the Jizzakh region for construction of the overhead power transmission lines and constructions of electric infrastructure necessary for implementation of the Investment project and to bring in Government commission on consideration of questions of change of categories of land fund of lands of agricultural purpose and forest fund of the offer on establishment of the public servitude respectively and to change of category of land fund;

(b) in a month to provide allocation to the Department of Energy with the right of permanent use of the parcels of land for implementation of the Investment project corresponding to the conditions specified in the investment agreement and Agreements. At the same time:

(i) Provide to Department of Energy transfer of the corresponding parcels of land provided to it to lease for the period equal to the term of implementation of the Investment project, the Project company - for construction of solar photopower plant, the Project company and JSC Natsionalnye elektricheskiye seti Uzbekistana - for construction of overhead power transmission lines and constructions of electric infrastructure;

(ii) exempt the Department of Energy from compensation of losses of agricultural production (compensation payments) for use (change of category) of lands of agricultural purpose.

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