The EDB becomes a financial partner in the construction of the Suusamyr-Kokomeren HPP Cascade in the Kyrgyz Republic
Moscow, 12 December 2024. The Eurasian Development Bank, the Ministry of Economy and Commerce and the Ministry of Energy of the Kyrgyz Republic have signed a trilateral Memorandum of Cooperation on the Suusamyr-Kokomeren HPP Cascade Project.
An essential factor in the Kyrgyz Republic’s economic development is increasing energy capacity by utilising the natural hydropower potential of its rivers. The construction of the Suusamyr-Kokomeren HPP Cascade on the Kokomeren River is of significant strategic, economic and social importance for Kyrgyzstan. This project is part of the 2035 National Energy Programme approved by Resolution 2317-VII of the Jogorku Kenesh (Parliament) on 27 June 2024. The cascade’s three hydropower plants are preliminary projected to have a combined installed capacity of 1,305 MW. The project will address the country’s current and future electricity demand while contributing to a reduction in greenhouse gas emissions.
The Memorandum outlines the preparation of necessary documentation with financial support from the EDB, including a pre-feasibility study for the investment project. The EDB and the ministries will collaborate to develop options for the project’s financial and economic model, evaluate capital costs, assess social and environmental impacts and identify key technical solutions along with government support measures required for successful implementation.
“The construction of the 1.3 GW Suusamyr-Kokomeren HPP Cascade will be a crucial step in strengthening Kyrgyzstan’s energy independence. This major project will not only meet the country’s domestic electricity needs but also position Kyrgyzstan as a leading exporter of clean energy in the region, which will significantly boost the economy and create thousands of new jobs,” said Sanzhar Bolotov, Kyrgyzstan’s Deputy Minister of Economy and Commerce.
The Suusamyr-Kokomeren HPP Cascade Project is part of the EDB’s key investment mega-project, the Central Asian Water and Energy Complex, which aims to foster water and energy cooperation in the region while addressing national socio-economic challenges. The investment project aligns with the EDB’s 2022–2026 Country Strategy for the Kyrgyz Republic, focusing on the modernisation and construction of hydroelectric facilities and grid infrastructure.
For more information on the Central Asia Water and Energy Complex mega-project, please refer to the report by the EDB’s Research Department.
Additional Information:
The Eurasian Development Bank (EDB) is a multilateral development bank investing in Eurasia. For more than 18 years, the Bank has worked to strengthen and expand economic ties and foster comprehensive development in its member countries. The EDB's charter capital totals US $7 billion. Its portfolio consists principally of projects with an integration effect in transport infrastructure, digital systems, green energy, agriculture, industry and mechanical engineering, as well as water and energy. The Bank adheres to the UN Sustainable Development Goals and ESG principles in its operations.
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