27 Feb 2024 16:58

Kyrgyz govt attracts $1 bln in investment to build Kambarata HPP-1 - PM

BISHKEK. Feb 27 (Interfax) - The Kyrgyz government has attracted $1 billion for building the Kambarata HPP-1, Kyrgyz Prime Minister Akylbek Japarov said at a meeting of the Kyrgyz Culture Ministry's board.

"We have found $500 million in investments in Geneva, and we will allocate another $500 million from the budget. We will build a bridge and a workers' settlement by this fall," Japarov said.

He said that $4.5 billion is needed to put the Kambarata HPP-1 into operation.

"We will present the project in Geneva on May 28, and I hope we will find more funds. This will allow us to cover the energy shortage," Japarov said.

At the end of August 2023, Kyrgyz Deputy Prime Minister Bakyt Torobayev said that the process of preparing for the construction of the Kambarata HPP-1 was being finalized. In particular, the construction of a highway, power substation, power transmission line, tunnels, bridges and settlements for builders is being completed. A joint venture between Kazakhstan and Uzbekistan is being established at the same time.

The Kyrgyz authorities have repeatedly stated the readiness of Kazakhstan and Uzbekistan to invest in building the Kambarata HPP-1. The parties have drawn up a roadmap for implementing the project.

The HPP with a capacity of 1,860 MW is expected to generate five billion kWh of electricity per year. According to preliminary estimates, the dam will be 256 meters high and the volume of water accumulated at the hydropower plant may exceed five billion cubic meters.

The Kyrgyz government said that plans are in place to put the first hydropower unit of the Kambarata HPP-1 into operation in eight years.

In January 2016, Bishkek denounced the agreements signed in September 2012 with Russia on constructing and operating the Upper Naryn HPP cascade and the Kambarata HPP-1. The Kyrgyz government said at the time that one of the reasons for this was the lack of solutions for funding the projects, as well as the serious increase in the cost of loans offered by the Russian side which could be attracted for construction.