The Russian-Kyrgyz Development Fund (RKDF) and the Eurasian Development Bank (EDB) signed an inter-creditor agreement on joint financing of the construction of Kulanak hydropower plant (HPP) with a capacity of 100 megawatts in Naryn region. Press service of RKDF reported.
The fund notes that the Kulanak HPP is a strategically important project for Kyrgyzstan. The RKDF will allocate $44 million for its implementation. The EDB will allocate the same amount.
«The launch of the HPP will help reduce the energy deficit in our country by almost 20 percent. During its construction, 1,000 jobs will be created, and after its commissioning — about 100. The station will be the first in a series of HPPs on Naryn river,» Artem Novikov, Chairman of the Board of RKDF, said.
In addition, raising the water level by a dam will increase the area of irrigated land to 7,200 hectares. Denis Ilyin, Deputy Chairman of the EDB Board, noted that a large amount of preparatory work had already been done at Kulanak HPP construction site.
«Kulanak HPP is not only an important project within the framework of the implementation of the EDB Country Strategy in Kyrgyzstan, but one of the stages of the EDB megaproject «Water and Energy Complex of Central Asia». Commissioning of new 100 megawatts of generation in Kyrgyzstan will reduce the power shortage in the country’s energy system. Additional opportunities will also be created to regulate the daily load schedule associated with the operation of solar stations and wind generation, the large-scale commissioning of which is planned in all countries of Central Asia,» he said.
Recall, the RKDF is currently working on 15 energy projects with a total capacity of 500 megawatts. Their launch will make it possible to generate about two billion kilowatt-hours annually and reduce the energy deficit in Kyrgyzstan by 70 percent.
