RESOLUTION OF THE PRESIDENT OF THE REPUBLIC OF UZBEKISTAN

of December 17, 2025 No. PP-381

About measures for implementation of the investment project "Construction of System of Accumulating of Electrical Energy Capacity of 150 MW (300 MW/hour) in Zangiatinsky District of the Tashkent Region"

For the purpose of diversification of sources of production of electricity, stable providing the population and industries of economy with energy resources I decide:

I. Ensuring energy security by means of construction of system of accumulating of electrical energy

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

(a) the EAGLERISE DEVELOPMENT HK COMPANY LIMITED company (People's Republic of China) (further - the Investor) within the investment project "Construction of System of Accumulating of Electrical Energy Capacity of 150 MW (300 MW/hour) in Zangiatinsky District of the Tashkent Region" (further - the Project) founds Mega Energy Power TECH LLC (further - the Project company);

(b) between the Investor, the Project company and the Government of the Republic of Uzbekistan on behalf of the Ministry of investments, the industry and trade signed on December 2, 2025 the investment agreement according to which the Investor and the Project company perform in the Tashkent region designing, financing, construction and operation of system of accumulating of electrical energy capacity of 150 MW (300 MW/hour) with attraction of direct investments in the amount of 70 million US dollars;

(c) on June 11, 2025 the Project company signs the Agreement on services of accumulating of the electric power with JSC Uzenergosotish, the Agreement on connection to networks - with JSC Natsionalnye elektricheskiye seti Uzbekistana (further - Agreements).

II. Obligations and privileges

2. Determine that according to Agreements:

(a) The project company assumes obligation of secured provision of readiness for operation of system of accumulating of electrical energy;

(b) The project company within the Project performs construction of power lines and substation for connection of power plant to single electrical power network, and also after their commissioning - transfer of JSC Natsionalnye elektricheskiye seti Uzbekistana. At the same time:

(i) the expenses of the Project company spent for construction of power lines and substation are provided in structure of rate of service of accumulating of the electric power;

(ii) power lines and substation are transferred to JSC Natsionalnye elektricheskiye seti Uzbekistana on a grant basis, and also these objects are not the taxation objects;

(c) JSC Uzenergosotish assumes obligation of implementation for fifteen years of payment of the expenses spent for operation of system of accumulating of the electric power and construction by the Project company of power lines and substation with addition of these expenses to the established rate before their complete repayment;

(d) payments for operation of system of accumulating of the electric power 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 5, 4 million US dollars as ensuring proper execution of the obligations in the period of construction;

(g) regulations and rules of construction and accomplishment of the land works connected with construction of system of accumulating of electrical energy of designing of the bases of buildings and constructions are regulated by international standards according to Agreements.

3. Provide to the Ministry of investments, industry and trade, to the Department of Energy and JSC Uzenergosotish 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 Project, in case of non-execution of agreement obligations by the Project company, signed within project implementation.

4. Permit:

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

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

III. Measures for projects implementation acceleration

5. Within project implementation:

(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, the Investor and the Project company;

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

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

(a) to open bank accounts in foreign banks abroad for receipt of the credit, obtaining and use of foreign currency cash (including credit receipts 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 Tashkent region on transfer of the parcels of land with a total area of 4 hectares in the territory of Zangiatinsky district allocated for project implementation from category of lands of agricultural purpose in category of lands of the industry, transport, communication, defense and other appointment it agrees prilozheniyu*.

8. To khokimiyat of the Tashkent region:

(a) together with the Department of Energy, the Ministry of Agriculture, the Ministry of Economics and finance and the Project company if necessary for project implementation to choose the parcels of land in the territory of Zangiatinsky district of the Tashkent region, necessary for construction of power supply networks and constructions of electric infrastructure, to bring amendments in their borders and to provide to 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 categories of land fund;

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

(i) Provide to Department of Energy transfer to lease of the corresponding parcels of land of the Project company provided to it for construction of system of accumulating of electrical energy, and also the Project company and JSC Natsionalnye elektricheskiye seti Uzbekistana for construction of power supply networks and constructions of electrical power infrastructure for the period equal to project deadline;

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