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Upper Naryn cascade. Kyrgyzstan’s PM discusses problem with head of RusHydro

Prime Minister of Kyrgyzstan Mukhammedkaly Abylgaziev met with the Chairman of the Board of RusHydro, Nikolai Shulginov. The Information Support Department of the Cabinet of Ministers reported.

During the meeting, the parties discussed prospects for mutually beneficial cooperation in the hydropower industry, taking into account the large water and energy potential of Kyrgyzstan and plans to increase electricity exports to the countries of the region.

«It was noted that finding of effective ways of cooperation in the hydropower industry, involving the attraction of foreign investment and mutually beneficial settlement of the situation with the Upper Naryn hydropower plants cascade, will correspond to the positive dynamics of development and strengthening of the strategic partnership between Kyrgyzstan and Russia,» the message says.

As noted, Mukhammedkaly Abylgaziev stressed that the Kyrgyz Republic was interested in effective cooperation in the field of hydropower industry for commissioning of new generating capacities and the development of the export potential of the industry.

Recall, Board of Directors approved termination of RusHydro’s participation in Upper Naryn HPPs CJSC by selling 2.5 million of ordinary registered shares, or 50 percent of the authorized capital, in favor of Electric Stations at a price determined on the basis of an appraiser’s report. The decision was made at a meeting of the Board of Directors. In addition, it was previously reported that RusHydro filed a lawsuit with the arbitration court in The Hague, demanding to recover $ 37 million from Kyrgyzstan. The authorities of the republic still hope to resolve the dispute without litigation.