Eurasian Development Bank to Fund New Solar Power Plant in Kyrgyzstan

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The Eurasian Development Bank (EDB) and Bishkek Solar have inked a cooperation agreement to finance the construction of a 300 MW photovoltaic power station in Toru-Aigyr village, Issyk-Kul Region, Kyrgyz Republic.

The project involves several significant agreements, such as a 25-year contract with the National Electric Grid of Kyrgyzstan (NEGK) to purchase all the electricity produced, a public-private partnership agreement with the Ministry of Energy of the Kyrgyz Republic, and a 25-year investment agreement with the Cabinet of Ministers of the Kyrgyz Republic. 

Furthermore, EDB is expected to define the long-term financing terms for the project, including tied funding amounting to up to $210 million over 15 years. The power plant is planned to be operational by the end of 2025.

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