BISHKEK, Kyrgyzstan, November 20. The Eurasian Development Bank (EDB) is actively discussing participating in the construction of the Kambarata-1 hydropower plant (HPP) with the Cabinet of Ministers of Kyrgyzstan and the World Bank (WB), Nikolai Podguzov, Chairman of the Management Board of the EDB told reporters, Trend reports.
He pointed out that the bank's strategy focuses significantly on hydroelectric projects.
"The Kambarata-2 project is being funded by the Eurasian Fund for Stabilization and Development. Across all EDB member nations, there are several projects involving renewable energy sources. We expect to invest at least $400 million in such projects by 2026. However, this is a conservative estimate; the actual figure will be higher," he emphasized.
Podguzov emphasized that the Kyrgyzstan government is presently working hard to reinvigorate and expedite the Kambarata HPP-1 building project.
On November 14, 2023, Almaz Baketaev, Kyrgyzstan's Minister of Finance, and Naveed Hassan Naqvi, World Bank Country Manager for Kyrgyzstan, signed an agreement for technical support to revise the feasibility study of Kambarata-1, with a total funding of $5 million.
The World Bank expects the Kambarata-1 HPP to make a substantial contribution to improving renewable energy availability not only in Kyrgyzstan, but also throughout Central Asia. This project is projected to alleviate the country's energy security issues while also generating significant revenue from energy exports.
The hydropower plant, situated on the Naryn River, is designed to have a capacity of 1,860 MW, with a reservoir volume of 5.4 billion cubic meters. It is projected to generate an average of 5.6 billion kWh of electricity annually.
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