BAKU, Azerbaijan, May 30. The Uzbek-Kyrgyz Development Fund signed a credit agreement with Kyrgyz Kogart HPP Company, where the fund undertakes to finance the construction of a small hydropower plant (HPP) in Kyrgyzstan, Trend reports.
According to the fund, it prioritizes projects that enhance electricity generation from renewable sources. The approval of financing for the small HPP construction demonstrates the fund's commitment to promoting sustainable energy solutions.
The project envisions the construction of a small hydropower plant with an installed capacity of 6.7 MW. Once operational, it is estimated to generate an average annual electricity output of 20.1 million kWh.
The advantages of this project include boosting of the economic development of the region, and creating 11 new job opportunities.
Moreover, the project's electricity output will play an important role in meeting the growing energy demands of Kyrgyzstan. With an existing deficit, the supply of electricity from the small hydropower plant will help stabilize the energy market.
The successful realization of this project is expected no only to contribute to the country's energy security, but also advance its sustainable development goals.