Kyrgyzstan to welcome Russian Investment in Hydropower Plant Construction – PM.

Kyrgyzstan would be open to considering Russian or any other investors for its cascade hydropower plants (HPP) near the city of Naryn, Kyrgyz Prime Minister Sapar Isakov said in a interview.

“We will welcome any company that is ready to contribute its investments. We will hold talks with any company that comes to us with a proposal,” Isakov said, when asked if Kyrgyzstan would consider Russian investors for the HPP construction.

Moreover, the prime minister added that Kyrgyz and Russian government had reached an agreement over RusHydro’s claims and the sides would not be going to court. Kyrgyzstan would decide on the amount that should be returned to the Russian company.

“They [RusHydro] claim that it is about $37 million. We propose holding an independent audit. But any state, when it is paying its debts, wants to confirm the sum that it is about to spend. However, this process should not be politicized because it is an economic issue,” Isakov said.

According to Isakov, Kyrgyzstan complied with all the requirements stipulated in the agreement before launching the cancellation procedure. The prime minister added that the country would not return the $1.2 million to Liglass, paid when the company entered the competition for the project. According to Isakov, Liglass breached the agreement.

Meanwhile, in 2016, Kyrgyzstan unilaterally canceled agreements with Russia on the joint construction of the Kambar-Ata 1 hydropower plant and the Upper-Naryn Cascade hydropower dams. Russian hydroelectricity company RusHydro later said it was considering filing a lawsuit against the Kyrgyz side.

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