BISHKEK, Kyrgyzstan, November 6. Electric Power Plants OJSC approved the re-pledging of the Kambar-Ata HPP-2 property complex during its extraordinary general meeting of shareholders held on October 27 in Kara-Kul, Trend reports via the company.
This decision overturns the resolution adopted on September 23, 2023, which had authorized the transfer of the property to other organizations. The measure is intended to consolidate the company’s control over one of Kyrgyzstan’s strategic hydropower assets and ensure continued state oversight of the Kambar-Ata HPP-2 facility.
The meeting, which achieved a quorum of 99.54 percent, also approved amendments to the company’s charter and bylaws in accordance with Kyrgyz Republic Law No. 126, alongside revisions to the 2025 budget and production plan.
Shareholders additionally endorsed a private placement of 2.29 billion additional common shares (valued at 10.25 billion soms or $112.75 million) in favor of the Ministry of Finance. Consequently, the authorized capital of Electric Power Plants OJSC will increase to 71.75 billion soms ($789.25 million).