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Agreements between Kyrgyzstan and Liglass on the Verkhne-Narynsky HP Stations

Monday 10 July 2017

BISHKEK (Presidency press service) — Kyrgyzstan has signed a deal with a Czech company specializing in renewable energy to take over a hydropower project that the government sees as key to ambitious plans to export electricity to Afghanistan and Pakistan.

President Almazbek Atambayev’s office said in a statement on July 10 that the Kyrgyz government has reached an agreement with Železný Brod-based Liglass Trading to construct and operate Akbulun HPP and Naryn HPP-1 in the Upper Naryn cascade. The company would under the same arrangement be responsible for implementing the “Construction of Small Hydropower Stations in Kyrgyzstan” project, a string of 10 smaller electricity-generating units.

The document on the construction of the country’s small hydropower stations provides funding, feasibility studies, construction, commissioning and operation of small hydro power plants Orto-Tokoy-1, Orto-Tokoy-2, Dad, Chon-Ak-Suu, Kirov, Karasu left-1, Karasu left 2 up to 30 December 2019, as well as construction and commissioning of small hydro power plants Sandyk-1, Sandyk-2 and Sandyk-3end of the year 2020.

An investment agreement on the construction, commissioning and operation Akbulunskoy HPP and Naryn HPP-1 Upper Naryn cascade hydropower stations in Kyrgyzstan provides for the introduction of the Czech company $37 mln in the share capital of CJSC Upper Naryn hydroelectric power station to start Russia’s share transfer procedures of 50% of the shares of ZAO Verkhne-Narynskye HPPs to Liglass Trading CZ, SRO. Also, according to the document, the feasibility study of the project will be updated, as well as construction, commissioning and operation of stations according to schedule.

President Almazbek Atambayev said that the arrival of large-scale private investment in Europe will serve as a strong signal to potential investors from around the world, confirming the readiness of Kyrgyzstan to create all the necessary conditions for doing business and effective implementation of mutually beneficial joint projects.

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