Eurasian Development Bank (EDB) in partnership with LLC "Bishkek Solar" have signed a cooperation agreement aimed at financing and implementing the construction of a solar power station with a capacity of up to 300 megawatts in the village of Toru-Aygyr, Issyk-Kul region. This was reported by the bank's press service.
The project includes several key agreements:
- A contract with OJSC "NEC Kyrgyzstan" for the purchase of all electricity for 25 years;
- Public-private partnership with the Ministry of Energy;
- Investment agreement with the Cabinet of Ministers for a period of 25 years.
It is expected that EDB will work out the terms of long-term financing, including attracting associated funding of up to $210 million (in Chinese yuan) for a period of 15 years.
The commissioning of the facility is scheduled for the end of 2025.
"This project is of key importance for the development of the renewable energy sector, especially solar energy, in Kyrgyzstan. It will improve energy security and stability. The power station will fully comply with international environmental and technical standards," said Denis Ilyin, the bank's Chief Managing Director.
EDB has extensive experience in implementing renewable energy projects. In Armenia, seven solar stations with a total capacity of 35 megawatts have been built, in Kazakhstan - 10 stations with a capacity of 305 megawatts, and two wind generation facilities. Overall, since 2015, the bank has invested $674 million in renewable energy projects.
