The Uzbekistan-China Investment Forum hosted by the Ministry of Investment, Industry and Trade of Uzbekistan, opened in Shenzhen on the morning of January 25, 2024. Political and business representatives from China and Uzbekistan gathered together to conduct in-depth exchanges and discussions on deepening the implementation of the important consensus reached by the heads of state of China and Uzbekistan.UE's Chairman Nan Yi was invited to attend the forum.

Nan Yi met with Mirzamakhmudov, Uzbekistan's Minister of Energy, and Kudratov, Minister of Investment, Industry and Trade, and signed the Investment Agreement for Uzbekistan's 500MW wind power project during the meeting.

According to the agreement, the Uzbekistan government will provide support in various aspects such as taxation, land, and financing for the investment and construction of the wind power project, and collaborate with various departments in Uzbekistan to promote the project's implementation. The signing of the agreement will further safeguard the smooth progress of the project and assist the company's long-term development in Uzbekistan.

During the meeting, Nan Yi introduced the current progress of Uzbekistan's 500MW wind power project and stated that he would complete the project investment and construction efficiently and with high quality on the basis of this agreement. Taking this project as an opportunity, he would promote the development of green energy in Uzbekistan, provide clean, safe, and reliable green electricity for local residents, and assist Uzbekistan's energy transformation.

Kudratov and Mirzamakhmudov expressed their recognition of UE and stated that they would provide assistance for the completion of the project and support the company's investment in Uzbekistan.

Previously, UE had signed a Head of Terms investment agreement with relevant departments in Uzbekistan, as well as Uzbekistan's first electricity purchase agreement (PPA) priced in RMB. The company would invest in and construct a 500MW wind power project in Samarkand, which would become the largest and first mountain wind power station in the local area. It was expected to be completed and connected to the grid by 2026.