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RusHydro not to audit construction of Upper Naryn cascade

RusHydro has never proposed an independent international audit of the construction of the Upper Naryn cascade of HPSs. The company’s message published on its official website says.

It is noted that the Kyrgyz media published reports with the words of the Chairman of the Accounting Chamber Ulukbek Maripov regarding RusHydro and the company’s plans to audit Upper Naryn cascade of HPSs construction project.

RusHydro says that this statement is not true.

«An intergovernmental agreement on the construction and operation of the Upper Naryn cascade of hydropower stations dated September 20, 2012, does not provide for such an audit. «RusHydro consistently adheres to the position that all the company’s expenses incurred in connection with participation in the Upper Naryn construction project are documented and are the expenses subject to unconditional compensation in accordance with the terms of the intergovernmental agreement,» the statement says.

At the same time, RusHydro stresses that, as before, the company is ready for a constructive dialogue with the partners and is ready to discuss options for repaying the debt by the Kyrgyz side.

In 2012, Russia and Kyrgyzstan signed an intergovernmental agreement on the construction of the Upper Naryn cascade of the hydropower stations, consisting of four stations. Upper Naryn Hydropower Stations CJSC was created for construction of the cascade, half of which belonged to RusHydro from the Russian side, and the other half — to Electric Stations JSC.

In 2016, the agreement was unilaterally terminated. By the time, RusHydro had already invested $ 37 million of its own funds in the project.