TASS: EDB to decide on the loan to Kyrgyzstan for the upgrade of Kambarata 2 HPP before October
Eurasian Development Bank (EDB) intends to provide a loan to Kyrgyzstan for upgrading Kambarata 2 HPP. Dmitry Pankin, Chairman of the Management Board at the Bank, stated this at a press conference today.
According to Mr Pankin, the amount of the loan will depend directly on the value of the unit the Kyrgyz party plans to install at the plant. "We'll decide on the provision of the loan before October," Mr Pankin explained. He estimates that the loan will approximate US $80 million. "Such projects have a positive effect on economic development of the country," he believes.
Kambarata 2 HPP is located in Kyrgyzstan's Jalal-Abad Region and was designed in the 1970s. Its construction began in 1986 but then suspended for the lack of finance. The first unit of the plant, with a capacity of 120 MW, was launched in August 2010. At present, two more generating units with a similar capacity can be installed at Kambarata 2 HHP. 31.07.2015 RIA Novosti: EDB provides US $100 million to Kyrgyzstan for reconstruction of the country's largest hydroelectric power plant.
On Friday, in Bishkek the Kyrgyz government and Eurasian Development Bank signed an agreement on the provision of a US $100 million investment credit to the country for Phase II of the reconstruction of Toktogul HPP.
Toktogul HPP was built in the upper reaches of the Naryn River and has been in operation since 1973. The 200 m dam is located on a tectonic fault where earthquakes of magnitude 9.0 can strike. The plant's dam forms the largest water reservoir in Central Asia, with a surface area of 284.3 sq m. The plant generates 40% of all electricity in Kyrgyzstan and regulates frequency in the energy system of Central Asia. "The rehabilitation of Toktogul HPP will improve operation of the entire energy system of our country," Adylbek Kassymaliyev, Minister of Finance of Kyrgyzstan, stated at the signature ceremony. As it was stated during the signature of the agreement, the US $100 million loan is provided for twenty years, bears an interest of 1% per annum, and includes a grace period of eight years. The loan will be used to replace BOP and auxiliary equipment at the plant to improve its capacity and extend its operating life.