Investment agreement for construction of Kazarman HPP cascade signed in Kyrgyzstan

Bishkek, July 27, 2023. /Kabar/. A ceremony of signing an investment agreement for the construction of the Kazarman cascade of hydro power plants was held today in Cholpon-Ata town of Kyrgyzstan at the VI International Economic Forum "Issyk- Kul 2023".

The Kazarman cascade of HPPs with a total capacity of 1,160 MW will be built on the Naryn River and put into operation by 2030. The cascade will include only four hydro power plants: Ala-Buga HPP with 600 MW, Kara-Bulun-1 HPP with 149 MW, Kara-Bulun-2 with 163 MW, Toguz-Toro HPP with 248 MW. The total cost of the investment is tentatively estimated at USD 2.4-3 billion and will be accurately determined based on the results of detailed design development.

The investors and implementers of the project were a consortium of the largest Chinese companies: PowerChina Northwest Engineering Corporation Ltd, Green Gold Energy (GGE) and China Railway 20th Bureau Group Co Ltd.

“The concluded investment agreement is the largest in the history of the Kyrgyz Republic. Under the leadership of the head of state, negotiations are currently underway on a dozen other projects of the same scale. In the coming years, we will not only make up for the deficit in electricity production, but will confidently reach capacities that will allow us to earn hundreds of millions of dollars a year on the export of electricity,” Akylbek Zhaparov said.