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Thursday, September 28, 2023

EDB, Russian-Kyrgyz Building Fund to finance HPS development in Kyrgyzstan


BISHKEK, Kyrgyzstan, July 9. The Eurasian
Building Financial institution (EDB) and the Russian-Kyrgyz Building Fund have
signed an settlement to collectively allocate $88 million for the
development of the Kulanak hydroelectric energy station (HPS) with
a capability of 100 megawatt within the Naryn area of Kyrgyzstan,
Development experiences.

In step with the settlement, the Russian-Kyrgyz Building Fund
will give a contribution $44 million against the task, matched by way of the
Eurasian Building Financial institution as the second one creditor and spouse.

Following the signing, Denis Ilin, Deputy Chairman of the Board
of the EDB, highlighted the numerous development made within the
preparatory paintings on the Kulanak HPS development web page.

He emphasised that the task holds now not simplest regional
importance throughout the EDB’s Nation Technique for the Kyrgyzstan,
however may be a the most important step within the larger-scale “Central Asia Water
and Power Advanced” mega-project envisioned by way of the financial institution.

In flip, Chairman of the Board of the Russian-Kyrgyz Building
Fund Artem Novikov famous that the task will create roughly
1,000 jobs right through the development segment and round 100 jobs as soon as
the plant is operational.

He added that this energy station will mark the primary in a chain
of cascading energy vegetation alongside the Naryn River. The status quo
of the Kulanak HPS will play a pivotal position in lowering the
nation’s power deficit by way of just about 20 %.

The Russian-Kyrgyz Building Fund is these days engaged in 15
power tasks. Those projects are anticipated to generate
roughly two billion kilowatt-hours of electrical energy once a year,
lowering Kyrgyzstan’s present power deficit by way of 70 %.


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