Participation in Renewable Energy Development Project in the Republic of Uzbekistan and Execution of Financing Agreements

Chubu Electric Power Co., Inc. ("CHUBU") has decided to jointly participate in a renewable energy development project (the "Project") to construct, own, and operate a solar power plant and a large-scale Battery Energy Storage System ("BESS") in the Republic of Uzbekistan ("Uzbekistan"), together with ACWA Power Company ("ACWA Power"), Sumitomo Corporation, and Shikoku Electric Power Co., Inc. ("Yonden").

On October 27, 2025, the project companies entered into financing agreements with a syndicate of banks, including Japan Bank for International Cooperation, the Asian Development Bank, the European Bank for Reconstruction and Development, and the Islamic Development Bank. For the portion of the loan provided by private financial institutions, Overseas Untied Loan Insurance from Nippon Export and Investment Insurance (NEXI) is expected to be applied.

The Project is Uzbekistan's largest solar power plant (total generation capacity of 1,000 MW), as well as BESS (total storage capacity of 1,336 MWh), and is scheduled to commence commercial operations from 2027 onward. The entire output will be sold to JSC National Electric Grid of Uzbekistan (NEGU) for a period of 25 years.

Furthermore, the Project marks the first concrete initiative under the comprehensive Memorandum of Understanding entered into between CHUBU and ACWA Power, the largest IPP operator in the Middle East, which has a significant presence in both the Middle East and Central Asia, covering broad collaboration in decarbonization fields, including renewable energy.

In this initiative, CHUBU will leverage its extensive experience and expertise accumulated through its electricity business and overseas consulting operations to contribute to the improvement and development of Uzbekistan’s electric power sector.

In CHUBU's global business, we will contribute to the realization of decarbonized society and further increase earnings by optimally combining the four domains of (i) green business centered on renewable energy, (ii) blue business in relation to CCUS or hydrogen business, (iii) retail, power transmission and distribution, and new services, and (iv) frontier business.

Project Overview

Construction Sites

①【Samarkand Solar 1】Solar（100MW）+ BESS
②【Samarkand Solar 1】Solar（400MW）+【Samarkand Solar 2】Solar（500MW）
③【Samarkand Solar 2】BESS