ASTANA — The energy ministers of Kazakhstan, the Kyrgyz Republic, and Uzbekistan signed an agreement to prepare for the construction and operation of the Kambar-Ata-1 hydroelectric power plant (HPP) during a special session on the sidelines of the International Energy Investment Forum held in Vienna on June 10-11, reported the Kazakh Energy Ministry’s press service.
Photo credit: gov.kz
The agreement outlines preliminary provisions, including establishing a joint-stock company in the Kyrgyz Republic with the following equity participation: 34% for the Kyrgyz side, 33% for the Kazakh side, and 33% for the Uzbek side. There is also a guarantee to purchase generated electricity in quantities determined by the participating states.
The Kambar-Ata-1 HPP will be constructed on the Naryn River in the Kyrgyz Republic to generate electricity for Central Asian countries and ensure a sustainable water supply for the region.
During the forum, Kazakh Energy Minister Almassadam Satkaliyev held a series of meetings to attract investors for electricity projects in Kazakhstan. He met with the President of the Austrian Industries Federation, representatives of Siemens Austria, Gas Connect Austria, and the International Finance Corporation, a member of the World Bank Group.
Satkaliyev emphasized that Kazakhstan is open to new strategic energy initiatives and is ready for mutually beneficial cooperation.
