RESOLUTION OF THE PRESIDENT OF THE REPUBLIC OF UZBEKISTAN

of August 7, 2023 No. PP-267

About measures for implementation of the investment project "Construction of Steam-gas Power Plant Capacity of 450 MW in the Jizzakh Region"

For the purpose of building-up of capacities of production of electrical energy with attraction of direct foreign investments in electric power industry, and also stable and high-quality providing industries of economy and the population with energy resources:

1. Take into consideration that:

a) between the Government of the Republic of Uzbekistan on behalf of the Ministry of investments, the industry and trade, the company "CENGIZ ENERJI SAN. VE TIC A.S." (Republic of Turkey) (further - the Investor) and Cenergo LLC (further - the Project company) is planned implementation of the investment project "Construction of Steam-gas Power Plant Capacity of 450 MW in the Jizzakh Region" (further - the Investment project);

b) between the Government of the Republic of Uzbekistan on behalf of the Ministry of investments, the industry and trade, the Investor and the Project company signed on June 1, 2023 the Investment agreement providing implementation by the Investor and the Project company:

designings, financings, construction and operation of steam-gas power plant capacity of 450 MW in the Jizzakh region;

attraction of direct foreign investments in the amount of by provisional estimate of all 337, 5 million US dollars with acceptance on possible risks;

c) between JSC Natsionalnye elektricheskiye seti Uzbekistana and the Project company on June 1, 2023 within the Investment project is signed the Purchase agreement of electrical energy according to which:

The project company as ensuring proper execution of the obligations in the period of construction provided guarantee of the first-class foreign bank in the amount of 2, to 0 million US dollars;

The project company assumed obligation on the guaranteed realization of the made electrical energy of JSC Natsionalnye elektricheskiye seti Uzbekistana;

JSC Natsionalnye elektricheskiye seti Uzbekistana assumed obligation on the guaranteed purchase of electrical energy and implementation of payment for electrical energy in national currency within 25 years.

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