On May 17th, the Uzbekistan-China Business Forum was held at the Xi'an International Convention and Exhibition Center. As an important supporting event of the China-Central Asia Summit, the forum attracted thousands of business representatives from China and Uzbekistan to participate. UE Chairman Nan Yi attended the meeting and signed a Head of Terms wind power cooperation investment agreement with the Ministry of Energy of Uzbekistan.

During the forum, Nan Yi held friendly talks with Jurabek Mirzamakhmudov, Minister of Energy of Uzbekistan, and the two sides successfully signed a wind power cooperation investment agreement. According to the agreement, UE will invest in and construct a wind power project with a total scale of 500MW in Samarkand Oblast, Uzbekistan. It is expected to start by the end of 2023 and can be completed and connected to the grid by 2026.

Nan Yi stated that since signing a framework agreement for wind power cooperation with Uzbekistan in February this year, the company quickly dispatched a team to conduct inspections and research in multiple regions of Uzbekistan, and finally determined the location of the wind power project-Samarkand Oblast. This cooperation marks the landing of the first mountainous wind power plant in Central Asia in Uzbekistan. At present, the preliminary development work of the project has been carried out, and geological exploration and surveying have been scheduled. Nan Yi hoped to take this cooperation as an opportunity to strengthen mutual benefits and trust between both sides, and contribute new forces to the deepening of China-Uzbekistan cooperation.

Jurabek Mirzamakhmudov expressed his recognition of UE during the meeting. He expressed that through this cooperation, he fully felt the core competitiveness demonstrated by UE in terms of work efficiency, electricity cost, etc. He was very confident that the enterprise could complete the project construction on time and with high quality. He also stated that he would make every effort to promote the signing of the PPA agreement for this wind power cooperation, and looked forward to mutual benefits and win-win cooperation between the two sides in the future.

On the same day, Chairman Nan Yi also held a meeting with the Minister of Energy of Kazakhstan, Almasadam Satkaliyev, and the two sides fully discussed topics such as further increasing investment cooperation and the application prospects of energy storage power stations in Kazakhstan. Almasadam stated that he will provide comprehensive support for UE's investment and construction in Kazakhstan.

As of now, UE has put six new energy projects into operation with a total scale of 380MW in Kazakhstan, all of which have been selected as "key projects for China-Kazakhstan capacity cooperation". They can meet the electricity needs of about 600000 local residents and reduce carbon dioxide emissions by 1 million tons annually. At the end of 2022, the company won four new bids for a total of 250MW wind power projects through market bidding in the local area, setting a new record for the lowest bidding price of similar projects in the local market and further reducing the cost of new energy electricity in Kazakhstan.