Upper Naryn HPP cascade price to be finalized in a month - RusHydro
MOSCOW. Oct 17 (Interfax) - The final price of the Upper Naryn hydropower cascade in Kyrgyzstan will be determined in the next month, OJSC RusHydro , the Russian participant in the project, told Interfax.
"The feasibility project has been compiled based on our Russian calculations and Kyrgyzstan will now look at it using its own methods. We hope to get everything completed over the next month and the final cost price agreed," the spokesman said.
Russia and Kyrgyzstan have already reached a consensus on technical decisions. The project was officially launched on June 12 2013.
The financing scheme for the project was written into an intergovernmental agreement between the two countries. Russia is to invest 50% and the other 50% will be in the form of an easy loan from Russia. Earlier, Kyrgyzstan estimated investment at $412 million.
The Russian Energy Minister Alexander Novak and the Kyrgyz Energy Minister Avtandil Kalmambetov signed an agreement on the construction and operation of the cascade in September 2012.
OJSC Electric Power Stations and RusHydro set up CJSC Upper Naryn HPP Cascade on a 50-50 basis. Russia will put up the money and raise loans for the construction and Kyrgyzstan will provide the rights to land use and other assets.
The Upper Naryn cascade includes four hydro power plants: Naryn HPP-1, Naryn HPP-2, Naryn HPP-3 and Akbulun HPP. The first hydro power plant should be finished in 2016 and the fourth by 2019. RusHydro says the cascade will have 237.7 megawatt capacity and generate 942.4 million kilowatt hours per year.