A delegation from the Kyrgyz government has appealed to investors in London to fund several energy projects and help resurrect more than forty businesses and promote the mining industry.
The government is seeking US$725 million to fund four hydroelectric power plant projects on the upper reaches of the Naryn River.
“We have reached our generating limit and demand is increasing. We have to build new capacity and restructure existing capacity,” Duishenbek Zilaliev, the head of the state committee on industry, energy and mining.
The Kyrgyz government has struggled to find investment for the US$2.86 billion Kambarata development since the Russian government pulled its support for the project in 2016.
Zilaliev outlined four projects and stated exactly how much investment was needed. The Akbulun HPP, which will generate 345.5 million kilowatts-per-hour, needs US$207.14 million. The Naryn HPP requires US$170.8 million, a second Naryn HPP requires US$143.8 million and a third needs US$205.8 million. He also spoke of a further six “promising projects”, and 10 smaller hydropower projects.
Power generation accounts for 15.4 percent of the Kyrgyz Republic’s industry, behind only metallurgy, which dominates the economy with a 50.1 percent share.
In addition to his country’s own demands, Zilaliev said Afghanistan and Pakistan have expressed an interest in purchasing power from their near-neighbour. In addition to the hydroelectric power projects, he highlighted the potential power that could be generated by new wind, solar and biomass projects.
Source: DevFin. Read full article here.
5 June, 2017
