Tashkent, Uzbekistan (UzDaily.com) -- The Chinese company Universal Energy will implement a project to build two wind power plants in Samarkand and Jizzakh regions.

The President of Uzbekistan Shavkat Mirziyoyev, through his resolutions, approved agreements on these projects.

Investment agreements were signed between Uzbekistan and Universal Energy on January 25, 2024 during the official visit of the head of Uzbekistan to China.

The projects are designated Alpha and Beta.

Universal Energy created subsidiaries Peak Wind Alpha and Peak Wind Beta to carry out the project.

According to the plan, the Chinese company will build two wind power plants with a capacity of 250 MW each. The total amount of investors for these projects will be US$500 million (US$250 million for each project).

As security for the project, the subsidiaries provided guarantees from a foreign bank in the amount of US$18 million (US$9 million for each project).

Purchases of electricity and work on the construction of power lines will be paid in amounts at a fixed tariff, denominated in foreign currency. In addition, project companies are allowed to open bank accounts in foreign banks for foreign exchange payments.

It should be noted that in October 2023, National Electric Grids entered into agreements with it on the purchase of electricity for 25 years.