BAKU, Azerbaijan, Mar. 10
By Klavdiya Romakayeva - Trend:
Investment agreements signed on January 20, 2021 between the Ministry of Investment and Foreign Trade of Uzbekistan and Turkish Aksa Enerji Uretim A.5. for the construction of power plants in Bukhara and Tashkent region have been approved, Trend reports referring to Norma information and legal portal.
According to the information, the project companies for the implementation of the construction of power plants are Aksa Enerji Tashkent LLC, established for the construction of a combined cycle power plant and a gas piston power plant in the Tashkent region, and Aksa Enerji Bukhara LLC, established for the construction of gas piston power plant in the Bukhara region.
Thus, Aksa Enerji Uretim A.5. and the project companies will attract foreign direct investment in the amount of $450 million for each project, assuming possible risks.
Also, agreements were approved on the purchase of electricity, signed as a result of direct negotiations between National Electric Networks of Uzbekistan JSC and project companies.
According to the agreements, Aksa Enerji Uretim A.5. assigns its rights and obligations to the project companies, project companies undertake the obligation of guaranteed sale of the generated electricity to a single buyer represented by JSC National Electric Grids of Uzbekistan.
In addition, National Electric Grids of Uzbekistan JSC undertakes the obligation of guaranteed purchase of electricity and payment for electricity in national currency for 25 years.
Furthermore, National Electric Grids of Uzbekistan JSC is allowed to provide a confirmed in foreign currency, renewable, irrevocable and unconditional bank guarantee of a commercial bank of Uzbekistan in favor of project companies as security for the fulfillment of obligations to cover the purchase of electricity generated by project companies within three months.
It is reported that National Electric Grids of Uzbekistan JSC will also take part as a supplier of natural gas for the needs of investment projects, as well as set prices for goods (work, services) sold in Uzbekistan for attracted foreign investment, pegged to foreign currency.
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