Green Energy Fund director Emilbek Orozbaev, speaking on Birinchi Radio, clarified the terms of working with investors in the RES sector. According to him, investors are given 18 months from the signing of the contract to prepare documents.
Terms of land provision and work with contracts
Orozbaev explained that land for the construction of RES power plants is not sold to investors but leased. Lease payments go directly to the state budget. If an investor fails to complete the work on time, the fund has the right to unilaterally terminate the contract and transfer the plot to another investor.
In addition, the fund is actively returning land plots to the state. Out of 84 projects previously provided to several investors, 9 plots have already been returned to the state, and auctions for them are planned in the near future.
Vetting of potential investors
To increase the transparency of the process, the fund vets the professional experience and business reputation of potential foreign investors. To this end, requests are sent to the Ministry of Foreign Affairs and the State Committee for National Security.
Context
The Green Energy Fund was established by Cabinet of Ministers resolution No. 621 of November 14, 2022. The fund was legally established on January 20, 2023. The fund provides a guarantee to investors in the construction of RES power plants, which guarantees the purchase of their electricity.
