Kosta Legal advises EDF, Nebras, Sojitz, and Kyuden on developing Syrdarya II gas-fired combined cycle power plant in Uzbekistan

We are glad to share that lawyers of Kosta Legal have successfully assisted a consortium of EDF International, Nebras Power, Sojitz Corporation, and Kyuden International Corporation in developing and attracting financing for a state-supported project for the construction and operation a modern 1580 MW natural gas-fired combined cycle power plant in the Syrdarya region of Uzbekistan. The plant will provide more efficient and cost-competitive electricity to more than 3 mln people, meeting an estimated 17% of demand and comprising 9.5% of installed power capacity when complete. Under financial documents for the project signed on 16 March 2023, around USD 800 mln are attracted to fund it from the International Financial Corporation, Japan Bank for International Cooperation, Nippon Export and Investment Insurance, Mizuho Bank, Ltd., Sumitomo Mitsui Banking Corporation, and Société Générale.

Our lawyers supported the Sponsors starting from the beginning of 2021, when the government of Uzbekistan announced its intention to develop the project, and provided comprehensive legal advice on foreign investment, public procurement, energy market, corporate, financial, land and construction matters. We would like to sincerely congratulate partners Nail Hassanov and Azizbek Akhmadjonov, counsel Maxim Dogonkin, senior associates Aliye Ablyalimova and Jahongir Olimjonov, associate Iroda Tokhirova, and other involved lawyers of Kosta Legal on successful work on this important and interesting project.