Despite financial disagreements that have been going on since 2016-2018, «RusHydro»’s work with the Kyrgyz Republic has not been suspended. This was stated today by Deputy General Director for Project Engineering and International Cooperation of the company «RusHydro» Sergei Machekhin at the 9th International Congress and Exhibition «Hydropower Central Asia and the Caspian 2025», commenting on the issue of construction of the Upper Naryn cascade of hydroelectric power stations.
«I don’t know the details, but I know for sure that the parties held negotiations last week, but I don’t know the results», — he informed, adding that he was ready to clarify the details and report upon returning home.
He also explained that this is not a critical factor in not continuing joint cooperation. It [the project for the Upper Naryn cascade of hydroelectric power stations] is not an obstacle to bilateral cooperation.
«We are ready to continue working within the framework of the Upper Naryn cascade in any format of cooperation. This could be someone’s investment project, or a government task», — a representative of «RusHydro» commented.
In turn, the Minister of Energy of Kyrgyzstan Taalaibek Ibraev, speaking at the same forum in Bishkek, said that the construction of the Upper Naryn cascade of hydroelectric power stations could begin in the near future.
According to him, Kyrgyzstan and Russia have reached agreement on the project.
«We have agreement on the Upper Naryn cascade. I hope that literally at the end of April —early May there will be progress, and soon we will begin construction», — said the minister.
Ibraev noted that negotiations with Russian partners are ongoing. Recently, Russian Deputy Prime Minister Alexei Averchuk came to Kyrgyzstan, and energy projects were discussed during the visit.
Let us recall that in July 2022, an arbitration award was made in Hong Kong in the proceedings of the claim of public joint-stock companies (PJSC) «RusHydro» against Kyrgyzstan regarding the project for the construction of the Upper Naryn cascade of hydroelectric power plants («VNK HPP»). It was recognized that Kyrgyzstan is obliged to compensate the funds invested by PJSC «RusHydro» in the project for the construction of the Upper Naryn cascade of hydroelectric power stations through loans issued to the joint venture CJSC «Upper Naryn hydroelectric power stations».
