USD 68.27
EUR 84.11
RUB 1.19

“RusHydro” preparing for trial with Kyrgyzstan

RusHydro is preparing for a court hearing on the issue of cost recovery for the construction of a hydroelectric power station in Kyrgyzstan. This was reported by Russian media with reference to the head of the company Nikolai Shulginov.

According to their information, a tender for a consultant on international arbitration has now been announced. Asked whether RusHydro is ready to sue in this regard, he gave an affirmative answer.

In September 2012, Kyrgyzstan and Russia signed agreements on the construction of the Verkhnenarynsky cascade of HPPs and Kambaratinskaya HPP-1, where the Russian side was the only investor.

In total, it was planned to build four HPPs with a total capacity of 191 MW. The cascade of HPPs should have been built on parity terms, the same principle would preserve even after putting the facilities into operation.

In January 2016, the KR denounced agreements with Russia on the construction of a hydroelectric power station. One of the reasons for this decision from the Kyrgyz side was the lack of decisions on the financing of projects. The estimated value of investments in the Verkhnenarynsky cascade of HPPs, according to Shulginov, was $ 35-36 million.

RusHydro emphasizes that the intergovernmental agreement on the construction and operation of the Verkhnenarynsky cascade of hydroelectric power stations Kyrgyzstan was broken unilaterally. «RusHydro never made statements about the intention to stop the construction of the Verkhnenarynsky cascade of HPPs,» the company said in a statement.

In July, the Kyrgyz Republic signed an agreement with the Czech company Liglass Trading CZ on the construction of the Akbulun HPP and Naryn HPP-1 of the Verkhnenarynsky cascade.