The Eurasian Development Bank (EDB) and Bishkek Solar have signed a cooperation agreement to finance the construction of a 300 MW photovoltaic power station in Toru-Aigyr village in Kyrgyzstan’s Issyk-Kul region. The signing ceremony took place on 21 May in Bishkek.
The project includes several key agreements, including an agreement with the National Electric Grid of Kyrgyzstan (NEGK) to purchase all generated electricity for 25 years; a public-private partnership agreement with the Ministry of Energy of the Kyrgyz Republic; and a 25-year investment agreement for the project with the Cabinet of Ministers of the Kyrgyz Republic.
The EDB is expected to formulate the terms of long-term financing for the project, including tied funding, totalling up to US $210 million (in Chinese yuan) for 15 years. The power plant is scheduled to be commissioned by the end of 2025.
“This project is of key importance for the advancement of the renewable energy sector, particularly solar energy, in the Kyrgyz Republic. It will contribute to greater energy security, stability and the Sustainable Development Goals. The power plant will fully comply with international environmental and technical standards,” said Denis Ilin, EDB Senior Managing Director.
