EDB to boost financing for 300 MW Kyrgyz solar project

It will arrange long-term financing of $210m.

The Eurasian Development Bank (EDB) and Bishkek Solar entered a cooperation agreement for the financing of a 300-megawatt (MW) solar project in Kyrgyzstan.

In a statement, EDB will be formulating the terms of long-term financing for the project worth $210m for 15 years.

"This project is of key importance for the advancement of the renewable energy sector, particularly solar energy, in the Kyrgyz Republic. It will contribute to greater energy security, stability and the Sustainable Development Goals. The power plant will fully comply with international environmental and technical standards,” emphasised Denis Ilin, EDB Senior Managing Director.

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Located in Toru-Aigyr village in Issyk-Kul Region, the project is expected to start operations by the end of 2025.

The project also has a power purchase deal with the National Electric Grid of Kyrgyzstan for all the generated electricity for 25 years.

It also has 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 Central Asian country.