BISHKEK, Kyrgyzstan, July 3. The World Bank (WB) allocates financial support of $67.7 million for the implementation of the initial stage of the Kyrgyz Renewable Energy Development Project, Trend reports.
The project will focus on strengthening the country's transmission systems and expanding the energy sector's generation capacity to meet growing demand. It also seeks to attract private sector investment
In its first phase, the project will receive support from the Green Climate Fund through the Sustainable Renewables Risk Mitigation Initiative.
The expected outcomes of the first phase include a boost in hydropower generation capacity by over 20 MW, an increase in variable renewable energy capacity by at least 100 MW, and a reduction in greenhouse gas emissions by 50.3 tons of carbon dioxide equivalent throughout the project's duration.
Kyrgyz Renewable Energy Development Project is designed to be implemented in multiple phases and will be supported with a total funding of $125.7 million over a span of 10 years.
The project will receive financing through the International Development Association (IDA). The first phase of the project, scheduled to take place from 2024 to 2028, will be implemented by the Ministry of Energy of Kyrgyzstan.