Turkish company to build plant for solar panels in Uzbekistan

Oil&Gas Materials 25 March 2019 15:01 (UTC +04:00)

Baku, Azerbaijan, March 25

By Fakhri Vakilov – Trend:

Turkish Endüstriyel Elektrik and the Agency of State Assets Management of Uzbekistan will create a joint venture Vip Solar Endustriyel Uz, Trend reports with reference to the draft decree of the head of state.

The new joint venture will produce modern solar panels with a total capacity of 200 MW. The authorized capital of Vip Solar Endustriyel Uz will be formed using the funds of the parties in the amount of $30 million.

It is planned that in the period from 2021 to 2023, the company will start the production of auxiliary equipment, including inverters, collectors and other types of electrical energy-saving equipment and technologies.

Moreover, at the same time, the joint venture should build solar power generating stations with a capacity of 200 MW for the subsequent transfer of the generated electricity to the common network.

Uzbekistan plans to exempt the company before January 1, 2022 from single tax payment, customs payments for equipment, raw materials, materials, components, special equipment and vehicles imported for its own production needs, as well as construction materials not produced in the country.

Earlier it was reported that the German company Graess Energy began construction of a small pilot solar power plant in Muinak.

The expert estimates show that the total potential of solar energy in the country exceeds 51 billion tons of oil equivalent.

Follow author on Twitter: @vakilovfaxri