Investment of 1.3 Billion Dollars from Canadian Company to Uzbekistan
The Canadian company will invest $ 1.3 billion to build solar energy plants in Uzbekistan.
The Canadian company SkyPower has announced that it will invest $ 1.3 billion to build a solar energy system with a total capacity of 1,000 MW in Uzbekistan. This project will be the biggest foreign investment project in the history of the state.
Uzbekistan President Shevket Mirziyoyev announced full support to the project and issued a decree confirming the guarantees by the investor-state. SkyPower will be the first independent energy producer in Uzbekistan and will be in cooperation with Uzbekenergo, the state-owned enterprise.
The SkyPower project will be the first project to produce electricity in solar energy plants in the history of the country.
According to estimates, this project will bring $ 2.9 billion USD to Uzbekistan's GDP (Gross Domestic Product) and enable thousands of new jobs to be opened. After the project is implemented, the share of solar energy will account for about 10 percent of the total electricity generated from renewable sources. The project will provide electricity access to all Uzbekistan's population.