BAKU, Azerbaijan, December 23. Kyrgyzstan is suffering from limited investments in its energy sector, Trend reports with reference to the Asian Development Bank (ADB).
According to the bank, Kyrgyzstan's aging energy infrastructure and transmission and distribution facilities result in significant losses.
The ADB reports that Kyrgyzstan's energy investment needs are estimated to range between $3 billion to $7 billion by 2030.
"Investment needs in hydropower range from $0.7 billion to $1.7 billion by 2030, improving the security of supply via fossil-fuel power generation is estimated at $0.7 billion to $1.5 billion, and investments in nonhydropower renewables (around $0.5 billion in total)," the bank noted.
The Asian Development Bank highlighted that to cover the significant investment needs, additional efforts are required to ensure the reliability of supply and the sustainable development of the energy sector.
"Energy sector of Kyrgyzstan must overcome several challenges to attract investments. These include phasing out its energy subsidies and establishing cost-recovering energy tariffs, developing necessary secondary legislation to effectively implement existing energy policies, and establishing renewable energy targets," the ADB said.