BISHKEK, Kyrgyzstan, December 16. The construction cost of the Kambarata HPP-1 in Kyrgyzstan has increased to $3.514 billion following an updated technical and economic feasibility study, Nurlan Sadykov, Deputy Minister of Energy, said at the meeting of the Budget and Fiscal Policy Committee of the Kyrgyz Parliament, Trend reports.
According to Sadykov, the updated study is expected to be completed by May 2025. Once this update is finalized, the World Bank plans to allocate $500 million to support the project. Construction work is anticipated to begin by the end of 2025 or early 2026.
The previous estimate for the project, prepared in 2014, stood at $2.95 billion.
In related news, the parliamentary committee has reviewed and approved the first reading of a draft law on the ratification of the financing agreement and letter of agreement between Kyrgyzstan and the International Development Association (IDA). This agreement, signed on September 9, 2024, in Bishkek, is aimed at providing technical support for the construction of the Kambarata HPP-1.
The additional funding for the project totals $13.6 million, with $11 million as a loan from the IDA and $2.6 million in grants. The loan has a term of 50 years, with a 10-year grace period from the signing date and a 0 percent interest rate. There is also a 0.5 percent fee for reserving funds.
The Kambarata HPP-1 planned capacity is 1,860 MW. The hydropower plant is expected to produce 5.6 billion kWh of electricity per year.