The project cost is US$10 million. The enterprise will be built at the free industrial and economic zone Navoi.

Suntech and Uzbekistan’s Uzbekenergo state joint stock company have signed a memorandum on setting up joint venture for the project in 2009.

The project will be implemented due to own resources of Uzbekenergo and foreign investments.

Uzbekistan also plans to build several solar-based electric power plants with a capacity of over 2 GW, according to earlier reports. Those plants will be financed by Uzbenergo and loans from the Asia Development Bank (ADB), and other international financial organizations.

Uzbekistan is investing heavily in solar power, and has already attracted other foreign investors. Tashkent inaugurated a new solar research institute in February 2012, in cooperation with the ADB.