The state Bank and two funds will finance the construction of a new hydroelectric power station in the Chui region
Three major financial institutions – the State Development Bank of the Kyrgyz Republic, the National Investment Fund and the Azerbaijan-Kyrgyz Development Fund – have agreed to jointly implement energy projects. The parties signed a memorandum confirming their intention to finance the construction of a new small hydroelectric power station.
The project is planned to be implemented in the territory of the Chui region. The initiative is aimed at solving one of the key tasks of the region’s economy – reducing the deficit of generating capacities. It is expected that the launch of the new station will partially cover the growing demand for electricity in Kyrgyzstan. In addition to strengthening energy security, the project carries a social and economic burden: it is expected to create new jobs and increase tax revenues to the state budget.
Within the framework of the agreements reached, the participants intend not only to finance a specific facility, but also to deepen institutional cooperation. We are talking about the development of effective mechanisms to support strategically important investment projects. The parties agreed to coordinate efforts to attract external investments and develop long-term project financing instruments. Mutual exchange of information and professional expertise in the evaluation of initiatives is also envisaged.
Earlier, the State Development Bank of the Kyrgyz Republic has already started financing projects in the field of small hydropower. In particular, the bank signed an agreement with Ananyevo HPP LLC on the allocation of funds for the construction of a small hydroelectric power station “Zergez” in Issyk-Kul region. The design capacity of this facility is estimated at 28.9 million kWh per year. The new partnership with investment funds is designed to scale up such practices and accelerate the introduction of new capacities into the Kyrgyz energy system.
Original (in Russian): Госбанк и два фонда профинансируют возведение новой ГЭС в Чуйской области
