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Russia hopes to continue cooperation with Kyrgyzstan in hydropower industry

Russia hopes to continue cooperation with Kyrgyzstan in hydropower industry. The Director of the Third CIS Department of the Foreign Affairs Ministry of Russia Alexander Sternik said in an interview with RIA Novosti.

In 2016, Kyrgyzstan denounced agreements with Russia on the joint construction of the Upper Naryn cascade of HPPs and Kambarata HPP 1 due to economic difficulties that the Russian side faced. The expenses of the Russian company for the preparation of construction amounted to about $ 37 million.

«Potential investors had difficulties due to circumstances that did not depend on them. The tasks of allocating land for the objects were not solved for too long, questions about the profitability of the projects remained. While this swing lasted, the favorable period ended,» said Alexander Sternik. «Financial and economic crisis has come in the world, exchange rates of many currencies have shrunk.»

According to him, even in such a situation, the Russians were ready to «borrow loans on tolerable terms.» «However, no convincing calculations on the cost of electricity sale, its volumes, exports and what is associated with it, primarily on transmission networks were submitted,» the representative of the Russian Foreign Affairs Ministry said.

«Now the partners have met the interests of our contractor on the project Kambarata HPP 1. A solution is being sought to compensate for the costs of the Upper Naryn facilities, in which considerable funds have been invested,» said Alexander Sternik.

«I am confident that, having made the right conclusions, the sides will continue cooperation in a very promising ​​hydropower industry sphere,» he said.