ASTANA, Kazakhstan, April 15. Kazakhstan, together with Uzbekistan and Kyrgyzstan, will implement a project for the construction and operation of the Kambarata-1 HPP on the territory of Kyrgyzstan, Trend reports.
The draft agreement between the three countries has been submitted for public discussion on Kazakhstan's Open Legal Acts' portal.
According to the draft agreement, its purpose is to determine the terms of cooperation between the parties within the framework of the implementation of the project for the construction of Kambarata-1 HPP on the Naryn River in Kyrgyzstan.
The main principles of cooperation between the parties within the framework of the project are the guaranteed purchase of the entire volume of electricity generated at Kambarata-1 HPP by organizations determined by the parties, decision-making based on consensus, and management of the operating mode of Kambarata-1 HPP, taking into account the provision of water release volumes agreed upon by the parties.
The energy ministries of the parties will be responsible for the coordination and implementation of the agreement.
The parties will also create a separate joint-stock company on the territory of Kyrgyzstan with the following equity participation: the Kyrgyz side: 34 percent, the Kazakh side: 33 percent, and the Uzbek side: 33 percent.
The main sources of financing for the project will be the own funds of the founders of the joint-stock company and borrowed and grant funds from international financial institutions and commercial banks.