With its rich resource potential and government policy support, Uzbekistan has become one of the core markets for Chinese enterprises' overseas new energy investments. Recently, a Chinese wind turbine integrator has achieved a breakthrough overseas and plans to sign an investment agreement for a 1GW wind power project in Uzbekistan.

Recently, Sany Renewable Energy Co., Ltd. announced that it plans to sign an investment agreement with the government of the Republic of Uzbekistan, and establish two wholly-owned subsidiaries in Uzbekistan to respectively invest in and construct the Kungler Wind Farm 1 project and the Kungler Wind Farm 2 project, each with a scale of 500MW, and the investment amount for each project will not exceed 500 million US dollars.

Sany Renewable Energy Co., Ltd. is actively expanding the overseas wind power market. In the early stage, it has obtained the exclusive development rights for the Kungler Wind Farm 1 project and the Kungler Wind Farm 2 project in the Republic of Uzbekistan, and has signed a Power Purchase Agreement with the power purchaser JSC “UZENERGOSOTISH”, obtaining the right to sell the electricity generated by the relevant wind farm projects to the power purchaser for a period of 25 years starting from the commercial operation of the wind farm.

Long-term layout in the Central Asian market and project implementation

As early as 2019, Uzbekistan approved the Strategy for the Transition of Uzbekistan to a Green Economy from 2019 to 2030, setting the goal of increasing the share of renewable energy to more than 25% of the total power generation.

In that year, Sany Renewable Energy Co., Ltd. reached an agreement with the government of Uzbekistan to jointly develop a 1GW wind power project, and a cooperation plan to drive local wind turbine manufacturing through the wind power project. It also completed the erection of two 100-meter wind measurement towers for wind power, creating a precedent for Chinese wind power enterprises to provide wind power equipment and technology in Uzbekistan, with the towers being produced and constructed by local factories.

During the China-Central Asia Summit on May 18, 2023, Sany Renewable Energy Co., Ltd., the Ministry of Energy of Kazakhstan, the Samruk-Kazyna Fund, and China Power International jointly signed a memorandum of cooperation for the construction of a 1GW wind power + energy storage project in Kazakhstan. This project is the largest new energy project that Chinese enterprises have planned to invest in and construct in Kazakhstan so far.

On October 17, 2023, during the Third Belt and Road Forum for International Cooperation, Sany Renewable Energy Co., Ltd., China Power International, and the Samruk-Kazyna Fund signed a tripartite cooperation agreement for the project.

The extension of the wind turbine manufacturer's industrial chain, driven by both manufacturing and investment

Sany Renewable Energy Co., Ltd. is a rising star in the domestic wind turbine industry. In 2017, it established Sany New Energy Company, venturing into the new energy development business, focusing on two major sectors: wind turbine products, operation and maintenance services, and new energy power plants. In 2023, it achieved new breakthroughs overseas and successfully exported wind power equipment to Central Asia and South Asia.

In 2024, the competitiveness and market share of Sany Renewable Energy Co., Ltd.'s wind turbine products continued to increase, and new orders in the overseas market grew significantly. In October, a holding subsidiary of Sany Renewable Energy Co., Ltd. received orders of more than 1.6GW from India and Singapore, and its international market layout has entered a harvest period.

Sany Renewable Energy Co., Ltd.'s layout in Central Asia takes wind power as the core. While promoting the development of GW-level greenfield projects in Uzbekistan, it is preparing for the construction of a factory in Kazakhstan, driven by the dual wheels of "project development + localized manufacturing and sales". In the future, with the implementation of the $1 billion project in Uzbekistan and the commissioning of the base in Kazakhstan, Sany Renewable Energy Co., Ltd. may become a key participant in the green energy transition in Central Asia. (This article is from the official website of Seetao.com, www.seetao.com. No reprinting is allowed without permission. Otherwise, legal liability will be pursued. If reprinting, please indicate Seetao.com + the original text link.) Editor of the Strategic Column of Seetao.com / Yin Shiqian