In a significant boost to energy and water security in Central Asia, the European Union together with partners announced new investments in hydropower infrastructure in Central Asia, according to the Delegation of the European Union to the Kyrgyz Republic.
Particularly, the Kambarata-1 hydropower plant megaproject in Kyrgyzstan marked noticeable progress, with a total of €900 million in Memoranda of Understanding signed between the EU, European Investment Bank (EIB), and Kyrgyzstan, Kazakhstan and Uzbekistan, and an unveiled feasibility study co-funded by the EU and implemented by the World Bank. The European Bank for Reconstruction and Development (EBRD) also signed Memoranda of Understanding with Kyrgyzstan, Kazakhstan and Uzbekistan and is considering an overall financing package of €1.3 billion in support of the project.
These new investments will further improve electricity access and unlock economic opportunities for the local population. The announcements were made during the Global Gateway Forum on 9-10 October in Brussels.
European Commissioner for International Partnerships, Jozef Síkela, welcomed the new announcements: “During my recent mission across Central Asia, I have very well learned the importance of water for the stability of the whole region. Smart investments in Hydropower plant can improve the access to reliable and affordable electricity, generate income for local people, while supporting sustainable agriculture and protecting people’s health and the environment. We are proud to support the future construction of the Kambarata-1 hydropower plant that is key to energy production in Central Asia. Our new investments strengthen the strategic partnership between the EU and Central Asian countries.”
“Enabled by guarantees from the European Commission, the EIB as the climate bank is backing infrastructure that strengthens regional energy cooperation in Central Asia. We see the potential of the Kambarata-1 hydropower plant project as instrumental in expanding renewable electricity trade in the region, fostering economic development, and enhancing energy security,” says EIB Vice-President Kyriacos Kakouris, who oversees the Bank’s operations in Central Asia.
The Kambarata-1 hydropower plant project is under preparation on the Naryn River in Kyrgyzstan. It will be the largest hydropower facility in the country and one of the most important in Central Asia. Once completed, it could significantly enhance Kyrgyzstan’s energy security, foster regional cooperation, and contribute to the region’s economic development.
photo: gov.kg
