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Implementation of investment projects


Construction in the southern regions of Uzbekistan wind energy park (wind turbine)

Currently, SEC “SHAMS” is planning implementation. a large investment project for the construction of a wind power park in the southern regions of Uzbekistan.

The project involves the construction of a wind power station (WPP) “SHAMS” with an installed capacity of 1,200 MW (megawatts). The construction site is located in the southern region of Uzbekistan in the Kashkadara (Surkhandarya) region. It is predicted that as a result of the implementation of the first stage of the project, an energy-generating facility (wind power plant, then wind turbine) will appear with an annual electricity generation volume of 2,242GWh (gigawatt-hours). The project is also an innovation and infrastructure facility in the Kashkadarya and Surkhandarya regions.

In total, the Project envisages to establish about 500-550 units. wind power plants (wind turbines), with a nominal capacity of 2.3 MW.

As a result of the project implementation, a wind power park will be created in Uzbekistan for the first time, which will generate and transmit electricity to the regional electric grid.

This project attracted the attention of the Turkish company ETKA CO ENERJİ A.Ş., which is ready to build a fleet of wind turbines in a number of regions of the Republic of Uzbekistan through its own direct investments, which maximally meet the technical requirements of the project. For these purposes, LLC SHAMS SCIENTIFIC CENTER has developed a feasibility study for the creation of a wind farm park in Uzbekistan with a total capacity of 1,200 MW, which was approved by the Board of Directors of ETKA CO ENERJİ A.Ş.

Taking into account the need to purchase a large number of wind turbines, one of the conditions for a feasibility study on the creation of a wind turbine park is the organization in Uzbekistan of an industrial plant for the assembly and production of wind turbines, for which ETKA CO ENERJİ A. вз. assumed the guarantee of attracting modern western technologies.

The implementation of the project for the construction of a wind turbine park will have the following benefits, including through:

a) the introduction of new modern technologies in the Republic of Uzbekistan;

b) the creation of new production jobs and, accordingly, revenues to the state budget from taxes and other obligatory payments from production activities;

c) ensuring uninterrupted power supply in remote regions of the republic during the year;

d) ensuring the inflow of foreign exchange earnings from the export of cheap electric power to Afghanistan from wind turbine installations in the border area of ​​Uzbekistan;

e) the production of cheap electricity in the Republic of Uzbekistan and the saving of natural gas and coal exempted from their use in thermal power plants.

Current Project Status:

A full range of pre-project approvals and surveys was carried out:

    • 2-year wind measurement surveys were completed and the results were analyzed;
    • agreement in principle was obtained for the connection of WPPs to the power grids from Uzbekenergo;
    • The feasibility study of the project / business plan of 1200 MW SHEPS is developed.


The guarantees on the provision of funds from the leading Turkish company “” in the form of direct investments in the amount of ONE BILLION USD were confirmed and received in writing.

 The 600 MW SHAMS site is located in the south of Uzbekistan, on the border with the Kashkadarinsk region. The height in the central part of the plain is 300–350 meters, in the south and east it is up to 900–1500 meters above sea level, where the plain passes into the Maidanak Plateau. In the central part of the plain there is a mountain wind corridor. The average monthly wind speeds at a height of 60 m above ground level according to the measurement data after applying the above-described adjustment (for the calibrated A 100 LM anemometer) are shown in the following table. To avoid seasonal influence, data were used from September 1, 2016 to September 1, 2017.

Average monthly wind speeds at an altitude of 60 meters above earth level, obtained at the VMC «SHAMS».

VMC «SHAMS»: Wind speed at 60 m above earth level (m / s)

Data availability[%]

September 2016



October 2016



November 2016



December 2016



January 2017



February 2017



March 2017



April 2017



May 2017



June 2017



July 2017



August 2017



Average monthly





Performance indicators and project participants

Performance indicators calculated on the basis of the cash flow per invested capital (for the payback period):

  • net present value (NPV) – 3, 075 million US dollars.
  • Internal Rate of Return (IRR) – 2.3 (for a period of 9 years)
  • profitability index (PI) – 0.03
  • simple payback period (РВР) – 7.5 years
  • discounted payback period (DPP) – 8.9
  • positive budgetary effect – $ 20.17 million

Cabinet of Ministers of the Republic of Uzbekistan – general management of the project implementation and adoption of rates for tariff setting;

LLC SCIENTIFIC CENTER “SHAMS” – general designer (pre-design and design work);

ENERCON GmbH – supplier of wind turbines;

INTEKOSIYOLTD ŞTİ– general contractor;

SJSC “Uzbekenergo” – purchase of electricity and connection to electric networks.

Infrastructure and Market

The project is implemented from the zero cycle. The power grid infrastructure is located on the order of 1 – 2 km from the planned location of the WPP. Road infrastructure available.

SJSC “Uzbekenergo” should compensate for losses in electric networks, primarily through the acquisition of electric energy produced at qualified generating facilities connected to the networks of grid organizations and operating on the basis of the use of renewable energy sources. In accordance with the Law of the Republic of Uzbekistan No. PP-2343 “On the program of measures to reduce energy intensity, the introduction of energy-saving technologies in the sectors of the economy and the social sphere for 2015-2019.”

In this regard, up to 50% of energy consumption is expected to be imported to Afghanistan and other border states (Kyrgyzstan, Tajikistan, etc.), the remaining 50% – for use in the domestic market to provide the population and enterprises of Kashkadarya and Surkhandarya regions.

Project Financing and Implementation Strategy

The total cost of the project is $ 1 billion. Sources of project financing:

own funds of the Turkish Investor,
involved funds

Proposed financing terms:

The maximum loan amount is $ 1 billion.
The loan is used from December 2017 to December 2020.
The interest rate on the loan is 2% per annum;
Repayment of the principal debt is carried out in equal annual installments, the first of which occurs 36 months after the date of signing the loan agreement.
The final repayment of the debt no later than 120 months (10 years) from the date of signing the loan agreement ..
Interest is paid annually at the end of the year.
The interest is paid on the last business day of the interest period.

Investment stage (November 2019 – November 2020):

Start: preparation of project documentation, negotiations with the supplier of wind turbines.
Termination: commissioning of a wind farm

Stage of the payback period (December 2020 – December 2030):

Start: start selling electricity.
End: the end of the project payback period (return on investment)

Stage of market pricing (from December 2019):

Start: electricity sales at market prices.



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