Kyrgyzstan and Russia agreed on construction of Kambarata HPP-1 with the participation of “inter RAO” and upper Naryn cascade with the participation of RusHydro in 2012. On New year’s eve Kyrgyzstan decided to denounce the agreement with Russia due to the fact that the Russian side has recognized the impossibility of raising funds.
BISHKEK, 4 Jan –. Prime Minister of Kyrgyzstan Temir Sariyev urged to accelerate the process of denunciation of agreements with Russia on construction of the upstream Naryn HPP cascade and Kambarata HPP–1 because of the country’s demand for new generating capacity.
In December, the President of Kyrgyzstan Almazbek Atambayev said that Bishkek is considering the possibility of exit agreements with Russia on the upper Naryn cascade and Kambarata HPP-1, as well as finding new investors because of the difficulties experienced by the Russian economy. Atambayev said that he had found in this question full understanding with the Russian leadership. On the eve of the New year, the Kyrgyz government announced the decision to denounce the agreement with Russia due to the fact that the Russian side “has recognized the impossibility of raising funds to implement the terms of the agreement”.
“Given the need to construct new generating facilities, relevant state authorities need to expedite the resolution of procedural issues within the denunciation of the agreement with Russia on construction of the upstream Naryn HPP cascade and Kambarata HPP” — said Sariev during a retreat in the country’s largest Toktogul HPP.
Kyrgyzstan and Russia agreed on construction of Kambarata HPP-1 with the participation of “inter RAO” and upper Naryn cascade with the participation of “RusHydro” during the visit of Russian President Vladimir Putin to Bishkek in 2012.
It was assumed that the Russian side will allocate funds for construction, Kyrgyzstan will have the right of use of land and other assets as contribution to the authorized capital of the created joint ventures for the construction of power plants.