A presidential decree “On measures to implement the project “Transformation of the Electricity Sector and Sustainable Transmission of Electricity” with the participation of the World Bank, as well as to develop and improve the efficiency of the system of main electric networks of the republic” was adopted.
The document was adopted in order to develop the system of backbone electrical networks, improve its reliability and safety, prevent accidents, as well as provide stable supply of electricity to economic sectors and the population.
The resolution approved the main technical and economic indicators of the following investment projects: implementation of a hardware and software complex for dispatch control and data acquisition (SCADA); modernization and reconstruction of substations of main electrical networks with the participation of the World Bank (Phase II); a list of loans from international financial institutions attracted to finance investment projects of National Electric Grids of Uzbekistan (NEGU) JSC and for which savings are expected.
On June 25, 2021, the Board of Directors of the World Bank agreed to finance investment projects through a $330 million concessional loan and a $50 million non-concessional loan from the International Development Association and a $43 million concessional loan and $4 million grant funds from the Green Climate fund.
On October 6, 2021, a letter of mandate was signed between the National Electric Networks of Uzbekistan JSC and the European Bank for Reconstruction and Development on the allocation of a corporate loan without a state guarantee to finance the investment project “Construction of a 500 kV overhead line Sarymai (Khorezm region) – Jangeldy (Bukhara region)” with a length of 130 km.
Switchgears with a voltage of 110-500 kV, which are at the disposal of the enterprises of Thermal Power Plants JSC and Uzbekhydroenergo JSC will be transferred to the NEGU at the balance (residual) value, together with staff units. At the same time, the property rights of business entities transferred from one organization to another are not subject to taxation for all types of taxation.
