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RusHydro responds to criticism by President of Kyrgyzstan

RusHydro responded to criticism by the President of Kyrgyzstan. The press service of the Russian holding issued a statement the day before.

«On July 24, 2017, mass media published messages with a quote from the President of Kyrgyzstan Almazbek Atambayev regarding RusHydro and the situation with the construction of the Upper Naryn cascade of hydropower stations. RusHydro considers it necessary to state the following. The company considers systematic information speculation and statements on the part of Kyrgyz partners, in particular, the President of the Kyrgyz Republic Almazbek Atambayev, the Chairman of the State Committee of Industry, Energy and Subsoil Use Duishenbek Zilaliev and other officials regarding the company, fulfillment by the company of its obligations on the implementation of the project on the construction of Upper Naryn cascade within the framework of the concluded intergovernmental agreement, the company’s behavior in public information space and its legitimate rights in connection with the denunciation of the agreement as inadmissible," statement said.

RusHydro has never made any statements about the intention to stop the construction of the Upper Naryn cascade of hydropower plants, in connection with it the accusations of the Kyrgyz partners about the improper fulfillment of its obligations by RusHydro is absolutely groundless.

The holding notes that the intergovernmental agreement on the construction and operation of the Upper Naryn cascade of hydropower stations was unilaterally terminated by Kyrgyzstan.

The funds invested by the company in the implementation of the project must be returned to it in full in accordance with the terms of this agreement, however, all attempts of negotiations up to date have not led to an acceptable result for the company.

Press-service of the holding

«RusHydro, as before, is ready for a constructive dialogue and discussion of options for repaying the debt by the Kyrgyz side. At the same time, RusHydro acts strictly within the legal framework and, in case of failure to reach an agreement, it reserves the right to initiate an international arbitration with a claim for compensation by the Kyrgyz side of all costs incurred by the company in connection with participation in the project," the company commented.

RusHydro Group is one of the largest Russian energy holdings, uniting more than 90 renewable energy facilities in Russia and abroad, thermal power plants and grid facilities in the Far East, as well as energy service companies, research and design institutes. The installed capacity of the power plants that make up RusHydro, including Boguchanskaya HPP, is 38.9 GW.

The day before, Kyrgyzstan's President Almazbek Atambayev said at an annual summer press conference in Cholpon-Ata that the country has to return $ 37 million to silence RusHydro.