Czech company to build Upper Naryn hydropower plants cascade in Kyrgyzstan

BISHKEK (TCA) — On July 10, in Bishkek, in the presence of Kyrgyzstan President Almazbek Atambayev, the Government of Kyrgyzstan and the Czech company Liglass Trading CZ, SRO signed agreements on the construction, commissioning and maintenance of Akbulun and Naryn-1 hydropower plants (HPPs) of the Upper Naryn HPPs Cascade, as well as on the implementation of a project to build small hydro power plants in Kyrgyzstan, the president’s press service said.

According to the investment agreement on the Upper Naryn HPPs, the Czech company will transfer $37 million to the charter capital of the closed-type joint stock company Upper Naryn Hydropower Plants to get the company’s 50 percent shares belonging to the Russian side of the joint stock company.

The Upper Naryn project was initially started in partnership with Russia, which later withdrew from the project.

The Upper-Naryn cascade would include Akbulun, Naryn HPP-1, Naryn HPP-2, and Naryn HPP-3 power plants. The total capacity of the cascade should be at least 191 MW, with average annual electricity production of 1.55 billion kilowatt-hours.

The Czech company is ready to invest $400 million in the construction of the Upper Naryn cascade, according to the plan for the implementation of the investment agreement between the company and the Government of Kyrgyzstan, news agency reports.

Preliminary amount of investment in the first phase of the construction project is estimated at $230 million.

The construction is estimated to take about four years.

After the commissioning of the first two HPPs of the Upper Naryn cascade, an agreement is expected to be signed for the second stage of the project — construction of Naryn HPP-2 and Naryn HPP-3. In the second stage, part of investments will be a preferential loan, the Kyrgyz State Committee for Industry, Energy and Subsoil Use said.


Times of Central Asia