RESOLUTION OF THE PRESIDENT OF THE REPUBLIC OF UZBEKISTAN

of July 24, 2021 No. PP-5193

About measures for the organization of construction of steam-gas power plant capacity of 1500-1600 MW in the Surkhandarya region

For the purpose of stable providing the population and industries of economy with energy resources:

1. Take into consideration that:

a) between the Ministry of investments and foreign trade, the Ministry of Finance, the Ministry of Economic Development and reducings poverty, the Department of Energy, Agency on development of public-private partnership and the Stone City Energy company (Netherlands) (further - the Investor) on September 26, 2020 signed the document reflecting the main terms of agreement on implementation of the investment project on construction of steam-gas power plant capacity of 1500-1600 MW in the Surkhandarya region cost 1, of 2 billion US dollars (further - the Investment project) at the expense of direct foreign investments;

b) for the purpose of implementation of the Investment project by the Investor SCE Quvvat LLC is created (further - the Project company);

c) between the Government of the Republic of Uzbekistan on behalf of the Ministry of investments and foreign trade, the Investor and the Project company the Investment agreement (further - the Investment agreement) on April 22, 2021 is signed according to which the Investor and the Project company perform:

designing, financing, construction and operation within 25 years of steam-gas power plant capacity of 1500-1600 MW in the Surkhandarya region;

attraction of direct foreign investments in the amount of 1, 2 billion US dollars with acceptance on possible risks;

d) within the Investment project between JSC Natsionalnye elektricheskiye seti Uzbekistana and the Project company the Purchase agreement of the electric power (further - the Purchase agreement of the electric power) on April 22, 2021 is signed according to which:

The project company as ensuring execution of the obligations up to standard in the period of construction provides the bank guarantee in the amount of 30 million US dollars;

The project company assumed obligation of the guaranteed sale of the made electrical energy to the single buyer on behalf of JSC Natsionalnye elektricheskiye seti Uzbekistana;

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