The EIB saw an investment potential in the Kambar-Ata HPP-1 project
The European Investment Bank (EIB) has signed the Vienna Communique “Unlocking the Investment Potential for a green Future of the Kyrgyz Republic and Central Asia” with the Government of Kyrgyzstan on further cooperation within the framework of the Kambar-Ata HPP-1 project.
According to the Ministry of Energy of Kyrgyzstan, the signing took place following a meeting in Bishkek between Kyrgyz Energy Minister Taalaibek Ibraev and EIB Vice-President Kyriakos Kakouris.
The EU Delegation to Kyrgyzstan noted that the cooperation will open up investment potential for a greener future of Kyrgyzstan and Central Asia.
The parties noted the importance of the Kambar-Ata HPP-1 as a strategic project aimed at improving energy security, improving water resources management, strengthening regional cooperation and accelerating the transition to clean energy in Kyrgyzstan and Central Asia.
The EIB representatives stressed their readiness to support Kyrgyzstan’s efforts to develop its energy potential.
Recall that the EIB is a member of the Coordinating Donor Committee for the construction of the Kambar-Ata HPP-1.
It should be noted that the construction of the Kambar-Ata HPP-1 is scheduled to begin in 2025, and the first hydroelectric unit will be commissioned in 2028. The preliminary cost of the project is from 4.5 to 5 billion US dollars, the capacity of the station is 1,860 megawatts. It is expected that the HPP will produce 5.6 billion kWh of electricity per year.
