Tashkent, Uzbekistan, May 20
By Demir Azizov– Trend:
Uzbekhydroenergo JSC is being created in Uzbekistan, according to the decree of the country’s President Shavkat Mirziyoyev, published in the Uzbek media.
The joint-stock company will unite the country’s hydropower generating enterprises, said the decree.
The company is being set up for the effective use of the Uzbek hydropower potential, formation of a single water and energy resources management system, consistent increase of the share of renewable hydropower resources in the structure of electric power generation, the document said.
The decree also defines that Uzbekenergo, an Uzbek state-run energy company, will fully purchase electricity produced by the enterprises of Uzbekhydroenergo JSC.
The funds from the sale of electricity generated at the hydropower plants of Uzbekhydroenergo JSC, excluding the costs of their maintenance, will be directed to the construction of new and modernization of the existing hydropower plants and will be exempt from corporate income tax.
Uzbekhydroenergo JSC will act as executive body responsible for the implementation of the program of measures approved by the decree of the Uzbek president for the further development of the country’s hydropower engineering in 2017-2022.
