BAKU, Azerbaijan, May 4. Kyrgyzstan’s investment agency and Kun-Bulagy (a Kyrgyz-Kazakh joint enterprise) signed a memorandum of understanding for construction of a 50 MW solar power plant in the Toru-Aygyr village of Issyk-Kul district, Trend reports via Kyrgyz media.
This memorandum serves as the basis for a direct investment agreement. The preliminary amount of the investment is estimated at $35 million.
Kun-Bulagy intends to develop design documentation and secure project financing in the near future.
It is planned to put the solar power plant into operation no later than 2024. Generation capacity of the plant is expected at 80 million kWh per year, at least, with the operation life of the plant for over 25 years.
Kun Bulagy was jointly established by the subsidiary of the National Energy Holding of Kyrgyzstan, TazaEnergy, and TGS-Energy Kazakhstan investment company.
Earlier, the solar power plant was promised to be built by the end of 2023, but the deadline has been shifted to 2024.