International law firm Simmons & Simmons has advised Stone City Energy on its agreement with the Government of the Republic of Uzbekistan to build a $1.2bn combined-cycle gas turbine power plant in Uzbekistan.
The power plant will have a capacity of approximately 1560MW and will be located in the Surkhandarya region of Uzbekistan. It will provide energy to the joint-stock company, the National Electric Grid of Uzbekistan, under a 25-year power purchase agreement. The commercial operation of the power plant is expected to occur by the end of 2024.
The Simmons team was led by Dutch-based corporate partner David Shearer.
Commenting on the deal, David said: “We are very pleased to have advised Stone City Energy on the negotiation of the power purchase agreement and investment agreement with the Ministry of Energy and the Ministry of Investments and Foreign Trade. We look forward to working with Stone City Energy and its partners on the financing and closing of this project.”.