Kazakhstan’s Ministry of Energy has announced that the draft Agreement between the governments of Kyrgyzstan, Kazakhstan, and Uzbekistan on the joint implementation of the project for the construction and operation of Kambarata hydroelectric power plant (HPP)-1 has been posted on Kazakhstan’s official Internet portal, Open Legal Acts, for public discussion.
The Agreement determines the terms of cooperation between the three Central Asian countries in the proposed joint construction of Kambarata HPP-1 on the Naryn River in Kyrgyzstan.
According to the draft Agreement, in order to implement the Project, the Parties are creating a joint-stock company on the territory of the Kyrgyz Republic with 34 percent of the authorized capital belonging to Kyrgyzstan, 33 percent to Kazakhstan, and 33 percent to Uzbekistan.
The main sources of financing for the Project are the own funds of the founders of the joint-stock company, as well as borrowed and grant funds attracted by the company from international financial institutions and commercial banks.
According to the document, after the end of the Project implementation period, all the shares and assets of Kambarata HPP-1 will become the property of the Kyrgyz side.
The Kambarata HPP-1 will become the largest hydropower plant in Kyrgyzstan.
