Baku, Azerbaijan, June 22
By Fakhri Vakilov - Trend:
Uzbekistan intends to accelerate the implementation of an investment project for the construction of wind power stations with the participation of Masdar, Abu Dhabi Future Energy Company PJSC (UAE), Trend reports citing Uzbek media.
Within the framework of the official visit of the President of Uzbekistan to the United Arab Emirates from 24 to 26 March 2019, an agreement was concluded between the Ministry of Investment and Foreign Trade of Uzbekistan, JSC Uzbekenergo and Masdar company on investments in the construction of wind power plants with a total installed capacity of 500 MW.
The agreement provides for the phased implementation of the investment project for the design, financing, construction, ownership and operation of a wind power plant.
The National Electric Networks of Uzbekistan JSC is assigned the executive body responsible for the implementation of the Agreement. The Ministry of Investment and Foreign Trade and the Ministry of Energy of Uzbekistan are the coordinators for the implementation of the agreement. Sredazenergosetproekt JSC will become a designer for conducting research and developing a scheme for power output to the power grid.
The project is being implemented by the investor together with the National Electric Networks of Uzbekistan JSC with its own funds and credits independently attracted by the investor.
As part of the project, the Ministry of Energy of Uzbekistan is instructed to ensure the involvement of the law firm White & Case and a financial consultant by December 1, 2019.
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